State Bank of India: Balance Sheet As at 31 March, 2019

STANDALO 1
State Bank of India

Balance Sheet as at 31st March, 2019
(000s omitted)
Schedule As at 31.03.2019 As at 31.03.2018
No. (Current Year) (Previous Year)
` `
CAPITAL AND LIABILITIES
Capital 1 892,46,12 892,45,88
Reserves & Surplus 2 220021,36,33 218236,10,15
Deposits 3 2911386,01,07 2706343,28,50
Borrowings 4 403017,11,82 362142,07,45
Other Liabilities and Provisions 5 145597,29,55 167138,07,68
TOTAL 3680914,24,89 3454751,99,66
ASSETS
Cash and Balances with Reserve Bank of India 6 176932,41,75 150397,18,14
Balances with Banks and money at call and short notice 7 45557,69,40 41501,46,05
Investments 8 967021,94,75 1060986,71,50
Advances 9 2185876,91,77 1934880,18,91
Fixed Assets 10 39197,56,94 39992,25,11
Other Assets 11 266327,70,28 226994,19,95
TOTAL 3680914,24,89 3454751,99,66
Contingent Liabilities 12 1116081,45,94 1162020,69,30
Bills for Collection - 70022,53,97 74027,90,24
Significant Accounting Policies 17
Notes to Accounts 18
Schedules referred to above form an integral part of the Balance Sheet.
Signed by: Smt. Anshula Kant Shri Arijit Basu Shri Dinesh Kumar Khara Shri P. K. Gupta
Managing Director Managing Managing Managing Director
(Stressed Assets, Director Director (Global (Retail & Digital
Risk & Compliance) (Commercial Banking & Banking)
Clients Group & Subsidiaries)
IT)
Directors:
Dr. Girish Kumar Ahuja
Shri B. Venugopal
Dr. Purnima
Gupta Shri
Chandan Sinha
Shri Sanjiv
Malhotra Dr.
Pushpendra Rai
Shri Basant Seth Shri Rajnish Kumar
Shri Bhaskar Pramanik Chairman
Place: Mumbai
Date: 10th May 2019
2 STANDALON
E
In terms of our report of even date
FOR J.C. BHALLA & CO. FOR RAO & KUMAR FOR BRAHMAYYA & CO.
Chartered Accountants Chartered Accountants Chartered Accountants
RAJESH SETHI ANIRBAN PAL K. JITENDRA KUMAR Partner : M. No. 20182

Partner : M. No.085669 Partner : M. No. 214919
Firm Regn. No. 001111N Firm Regn. No. 003089S
FOR CHATURVEDI & SHAH LLP FOR S. K. MITTAL & CO. FOR RAY & RAY
VITESH D. GANDHI M. K. JUNEJA ABHIJIT NEOGI

Partner: M. No.110248 Partner : M. No.013117 Partner : M. No. 061380
Firm Regn. No. 101720W/W100355 Firm Regn. No.001135N Firm Regn. No. 301072E
FOR O.P. TOTLA & CO. FOR N.C. RAJAGOPAL & CO. FOR K. VENKATACHALAM AIYER & CO.
S. R. TOTLA V. CHANDRASEKARAN Partner: M. No. 024844 Firm Regn. No. 230448S

A GOPALAKRISHNAN
Partner : M. No. 071774 Partner : M. No. 018159
Firm Regn. No. 000734C Firm Regn. No. 004610S
FOR S. K. KAPOOR & CO. FOR KARNAVAT & CO. FOR G. P. AGRAWAL & CO.
SANJIV KAPOOR SAMEER B. DOSHI AJAY KUMAR AGRAWAL

Partner : M. No. 070487 Partner : M. No. 117987 Partner : M. No. 17643
Firm Regn. No. 000745C Firm Regn. No. 104863W Firm Regn. No. 302082E
FOR DE CHAKRABORTY & SEN FOR KALANI & CO.

Chartered Accountants Chartered Accountants
D. K. ROY CHOWDHURY Partner : M. No. 053087

BHUPENDER No. 303029E
MANTRI
Firm Regn. Place : Mumbai
Partner: M. No. 108170 Date : 10th May, 2019
Firm Regn. No. 000722C
STANDALO 3
Schedule 1 - Capital
(000s omitted)
As at 31.03.2019 As at 31.03.2018
(Current Year) (Previous Year)
` `
Authorised Capital : 5000,00,00 5000,00,00
5000,00,00,000 shares of ` 1 each
(Previous Year 5000,00,00,000 shares of ` 1 each)
Issued Capital : 892,54,05 892,54,05
892,54,05,164 Equity Shares of ` 1 each
(Previous Year 892,54,05,164 Equity Shares of ` 1 each)
Subscribed and Paid-up Capital : 892,46,12 892,45,88
892,46,11,534 Equity Shares of ` 1 each
(Previous Year 892,45,87,534 Equity Shares of ` 1 each)
[The above includes 12,10,71,350 Equity Shares of ` 1 each
(Previous Year 12,62,48,980 Equity Shares of ` 1 each) represented by
1,21,07,135 (Previous Year 1,26,24,898) Global Depository Receipts]
TOTAL 892,46,12 892,45,88
Schedule 2 - Reserves & Surplus
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Statutory Reserves
Opening Balance 65336,98,37 53969,83,67
Additions during the year 258,66,89 11367,14,70
Deductions during the year - -
65595,65,26 65336,98,37
II. Capital Reserves
Opening Balance 9391,65,88 3688,17,59
Deductions during the year - -
9770,86,64 9391,65,88
III. Share Premium
Opening Balance 79124,21,51 55423,23,36
Additions during the year 37,92 23718,58,11
Deductions during the year 9,12,38 17,59,96
79115,47,05 79124,21,51
IV. Foreign Currency Translation Reserve
Opening Balance 5720,58,73 4428,63,94
6730,96,89 5720,58,73
V. Revenue and Other Reserves*
Opening Balance 48893,23,87 38392,85,99
49380,51,95 48893,23,87
4 STANDALON
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(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
VI. Revaluation Reserve
Opening Balance 24847,98,65 31585,64,99
Additions during the year 4670,63,97
24653,94,08 24847,98,65
VII. Balance of Profit and Loss Account (15226,05,54) (15078,56,86)
* Note: Revenue and Other

Reserves include
(i) ` 5,00,00 thousand (Previous
Year
` 5,00,00 thousand) of
Integration and Development
Fund (maintained under
Section 36 of the State Bank of
India Act, 1955)
(ii) Special Reserve under Section
36(1)
(viii) of the Income Tax Act, 1961
` 13421,76,76 thousand
(Previous Year ` 13421,76,76
thousand)
(iii)Investment Reserves Current
Year
` 371,84,01 (Previous Year Nil)
TOTAL 220021,36,33 218236,10,15
Additions during the previous year includes receipt from erstwhile ABs and BMBL on acquisition
Schedule 3 - Deposits
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
A. I. Demand Deposits
(i) From Banks 6894,62,06 5326,82,76
(ii) From Others 198980,62,74 184847,05,92
II. Savings Bank Deposits 1091751,97,36 1013774,47,09
III. Term Deposits
(i) From Banks 8234,15,28 15218,78,64
(ii) From Others 1605524,63,63 1487176,14,09
TOTAL 2911386,01,07 2706343,28,50
B I. Deposits of Branches in India 2814243,42,48 2599393,43,21
II. Deposits of Branches outside India 97142,58,59 106949,85,29
TOTAL 2911386,01,07 2706343,28,50
STANDALO 5
Schedule 4 - Borrowings
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Borrowings in India
(i) Reserve Bank of India 94319,00,00 94252,00,00
(ii) Other Banks 260,00,00 1603,85,43
(iii) Other Institutions and Agencies 27853,89,24 2411,83,26
(iv) Capital Instruments :
a. Innovative Perpetual 19152,30,00 11835,00,00
Debt Instruments
(IPDI)
b. Subordinated Debt 28256,73,80 32540,83,80
47409,03,80 44375,83,80
TOTAL 169841,93,04 142643,52,49
II. Borrowings outside India
(i) Borrowings and Refinance outside India 231100,53,78 217543,29,96
(ii) Capital Instruments :
Innovative Perpetual 2074,65,00 1955,25,00
Debt Instruments
(IPDI)
TOTAL 233175,18,78 219498,54,96
GRAND TOTAL 403017,11,82 362142,07,45

Secured Borrowings included in I & II above 124028,25,70 106637,02,05
Schedule 5 - Other Liabilities & Provisions

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Bills payable 23875,66,31 26617,74,90
II. Inter-office adjustments (Net) 21735,74,61 40734,57,50
III. Interest accrued 14479,87,48 16279,62,96
IV. Deferred Tax Liabilities (Net) 2,33,15 2,80,59
V. Others (including provisions)* 85503,68,00 83503,31,73
* Includes prudential provision for Standard Assets
` 12396,67,91 thousand (Previous Year `12499,46,35 thousand)
TOTAL 145597,29,55 167138,07,68
Schedule 6 - Cash and Balances With Reserve Bank of India

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Cash in hand (including foreign currency notes and gold) 18777,94,34 15472,42,20
II. Balance with Reserve Bank of India
(i) In Current Account 158154,47,41 134924,75,94
(ii) In Other Accounts - -
TOTAL 176932,41,75 150397,18,14
6 STANDALON
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Schedule 7 - Balances With Banks And Money At Call & Short Notice
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. In India
(i) Balances with banks
(a) In Current Accounts 87,02,70 48,59,90
(b) In Other Deposit Accounts - -
(ii) Money at call and short notice
(a) With banks 4608,88,73 1614,44,26
(b) With other institutions - -
TOTAL 4695,91,43 1663,04,16
II. Outside India
(i) In Current Accounts 19667,07,18 28528,09,13
(ii) In Other Deposit Accounts 2870,14,73 1226,43,94
(iii) Money at call and short notice 18324,56,06 10083,88,82
TOTAL 40861,77,97 39838,41,89
GRAND TOTAL (I and II) 45557,69,40 41501,46,05
Schedule 8 - Investments
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Investments in India in :
(i) Government Securities 761883,12,15 848395,84,44
(ii) Other approved securities - -
(iii) Shares 9878,74,38 10516,69,01
(iv) Debentures and Bonds 84948,36,68 77962,93,46
(v) Subsidiaries and/ or Joint Ventures (including Associates) 5608,00,04 5077,97,43
(vi) Others (Units of Mutual Funds, Commercial Papers etc.) 53388,53,85 72882,56,59
TOTAL 915706,77,10 1014836,00,93
II. Investments outside India in :
(i) Government Securities (including local authorities) 11644,84,99 10520,45,85
(ii) Subsidiaries and/ or Joint Ventures abroad 4298,49,28 2712,22,30
(iii) Other Investments (Shares, Debentures etc.) 35371,83,38 32918,02,42
TOTAL 51315,17,65 46150,70,57
III. Investments in India :
(i) Gross Value of Investments 926650,59,97 1026438,36,91
(ii) Less: Aggregate of Provisions / Depreciation 10943,82,87 11602,35,98
(iii) Net Investments (vide I above) TOTAL 915706,77,10 1014836,00,93
IV. Investments outside India :
(iii) Net Investments (vide II above) TOTAL 51315,17,65 46150,70,57
GRAND TOTAL (III and IV) 967021,94,75 1060986,71,50
STANDALO 7
Schedule 9 - Advances
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
A. I. Bills purchased and discounted 80278,87,21 67613,55,55
II. Cash credits, overdrafts and loans repayable on demand 776633,45,81 746252,38,11
III. Term loans 1328964,58,75 1121014,25,25
TOTAL 2185876,91,77 1934880,18,91
B. I. Secured by tangible assets (includes advances against Book Debts) 1582764,41,50 1505988,72,17
II. Covered by Bank/ Government Guarantees 80173,16,17 68651,16,60
III. Unsecured 522939,34,10 360240,30,14
TOTAL 2185876,91,77 1934880,18,91
C. I. Advances in India
(i) Priority Sector 520729,77,60 448358,95,60
(ii) Public Sector 240295,89,39 161939,24,46
(iii) Banks 9174,06,50 2845,19,97
(iv) Others 1114679,73,28 1023464,39,00
TOTAL 1884879,46,77 1636607,79,03
II. Advances outside India
(i) Due from banks 69975,74,47 77109,63,56
(ii) Due from others
(a) Bills purchased and discounted 26740,94,11 14539,04,35
(b) Syndicated loans 138191,25,40 120685,86,16
(c) Others 66089,51,02 85937,85,81
TOTAL 300997,45,00 298272,39,88
GRAND TOTAL [C (I) and C (II)] 2185876,91,77 1934880,18,91
Schedule 10 - Fixed Assets

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Premises (including Revalued Premises)
At cost/revalued as at 31st March 30201,53,82 35961,29,86
of the preceding year
Additions:
- during the year 669,84,09 1056,24,24
- for Revaluation - 4477,39,82
Depreciation to date:
- on cost 714,18,98 614,08,31
- on Revaluation 497,17,97 308,66,78
29620,40,28 29278,78,73
8 STANDALON
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(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
II. Other Fixed Assets (including
furniture and fixtures)
At cost as at 31st March of the 30114,90,96 21856,35,33
preceding year
Depreciation to date 22186,23,44 20192,98,49
8888,53,86 9921,92,47
III. Assets under Construction (Including 688,62,80 791,53,91
Premises)
TOTAL (I, II, and III ) 39197,56,94 39992,25,11
Additions during the previous year includes receipt from erstwhile ABs and BMBL on
acquisition
Schedule 11 - Other Assets

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Inter-Office adjustments (net) - -
II. Interest accrued 26141,97,03 25714,46,61
III. Tax paid in advance / tax deducted at source 24376,29,42 17546,11,08
IV. Deferred Tax Assets (Net) 10422,49,17 11368,79,19
V. Stationery and Stamps 102,14,03 107,05,92
VI. Non-banking assets acquired in satisfaction of claims 73,71 4,64,72
VII. Others* 205284,06,92 172253,12,43
*Includes Deposits placed with NABARD/SIDBI/NHB amounting to
` 138245,29,37 thousand (Previous Year ` 95643,16,91 thousand)
TOTAL 266327,70,28 226994,19,95
Schedule 12 - Contingent Liabilities

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Claims against the bank not acknowledged as debts 43357,92,57 35153,03,00
II. Liability for partly paid investments / Venture Funds 472,87,61 619,44,30
III. Liability on account of outstanding forward exchange contracts 596621,66,74 644102,45,28
IV. Guarantees given on behalf of constituents
(a) In India 157186,66,27 148866,54,48
(b) Outside India 72425,94,84 67469,26,89
V. Acceptances, endorsements and other obligations 124194,94,04 121238,94,74
VI. Other items for which the bank is contingently liable* 121821,43,87 144571,00,61
*Includes Derivatives ` 117435,24,87 thousand (Previous Year
` 141154,40,39 thousand)
TOTAL 1116081,45,94 1162020,69,30
STANDALO 9
State Bank of India

Profit and Loss Account for the year ended 31st March, 2019
(000s omitted)
Schedule Year ended 31.03.2019 Year ended 31.03.2018
` `
I. INCOME
Interest earned 13 242868,65,35 220499,31,56
Other Income 14 36774,88,78 44600,68,71
TOTAL 279643,54,13 265100,00,27
II. EXPENDITURE
Interest expended 15 154519,77,80 145645,60,00
Operating expenses 16 69687,73,74 59943,44,64
Provisions and contingencies 54573,79,61 66058,41,00
TOTAL 278781,31,15 271647,45,64
III. PROFIT
Net Profit/(Loss) for the year 862,22,98 (6547,45,37)
Add: Profit/(Loss) brought forward (15078,56,86) 31,68
Loss of eABs & BMB on amalgamation - (6407,68,97)
TOTAL (14216,33,88) (12954,82,66)
IV. APPROPRIATIONS
Transfer to Statutory Reserve 258,66,89 -
Transfer to Capital Reserve 379,20,76 3288,87,88
Transfer to Revenue and other Reserves 371,84,01 (1165,13,68)
Balance carried over to Balance Sheet (15226,05,54) (15078,56,86)
TOTAL (14216,33,88) (12954,82,66)
Basic Earning per Share: ` 0.97 ` -7.67
Diluted Earning per Share: ` 0.97 ` -7.67
The schedules referred to above form an integral part of the Profit & Loss Account.
IT)
Directors:
Dr. Girish Kumar Ahuja
Shri B. Venugopal
Dr. Purnima
Gupta Shri
Chandan Sinha
Shri Sanjiv
Malhotra Dr.
Pushpendra Rai
Place: Mumbai
Date: 10th May 2019
10 STANDALON
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A GOPALAKRISHNAN



BHUPENDER No. 303029E
MANTRI
Firm Regn. Place : Mumbai
STANDALO 1
Schedule 13 - Interest Earned
(000s omitted)
Year ended 31.03.2019 Year ended 31.03.2018
` `
I. Interest / discount on advances / bills 161640,23,23 141363,16,78
II. Income on investments 74406,16,37 70337,61,67
III. Interest on balances with Reserve Bank of India and other inter- 1179,06,59 2249,99,69
bank
funds
IV. Others 5643,19,16 6548,53,42
TOTAL 242868,65,35 220499,31,56
Schedule 14 - Other Income

(000s omitted)
` `
I. Commission, exchange and brokerage 23303,89,22 22996,80,04
II. Profit/ (Loss) on sale of investments (Net)1 3146,86,06 13423,34,83
III. Profit/ (Loss) on revaluation of investments (Net) (2124,03,82) (1120,61,02)
IV. Profit/ (Loss) on sale of land, buildings and other assets (Net) (34,98,24) (30,03,00)
V. Profit/ (Loss) on exchange transactions (Net) 2155,75,29 2484,59,52
VI. Income earned by way of dividends etc., from subsidiaries/ 348,01,18 448,51,70
companies
and/ or joint ventures abroad/ in India
VII. Income from financial lease - -
VIII. Miscellaneous Income 2 9979,39,09 6398,06,64
TOTAL 36774,88,78 44600,68,71
1
Profit/ (Loss) on sale of investments (Net) includes exceptional item of ` 473.12 crore (Previous year ` 5,436.17 crore).
2
Miscellaneous Income includes exceptional item of ` 1,087.43 crore (Previous year nil) and Recoveries made in write-off
accounts
` 8,344.61 crore (Previous year ` 5,333.20 crore).
Schedule 15 - Interest Expended

(000s omitted)
` `
I. Interest on deposits 140272,36,59 135725,70,41
II. Interest on Reserve Bank of India/ Inter-bank borrowings 9838,95,98 5312,42,79
III. Others 4408,45,23 4607,46,80
TOTAL 154519,77,80 145645,60,00
Schedule 16 - Operating Expenses

(000s omitted)
` `
I. Payments to and provisions for employees 41054,70,68 33178,67,95
II. Rent, taxes and lighting 5265,65,95 5140,43,15
III. Printing and stationery 498,94,99 518,13,63
IV. Advertisement and publicity 354,05,58 358,32,54
V. Depreciation on Bank's property 3212,30,65 2919,46,63
VI. Directors' fees, allowances and expenses 1,34,65 61,93
VII. Auditors' fees and expenses (including branch auditors' fees and 293,67,65 289,18,07
expenses)
VIII. Law charges 261,84,28 199,03,48
IX. Postages, Telegrams, Telephones etc. 387,01,81 506,83,11
X. Repairs and maintenance 904,08,56 826,93,29
XI. Insurance 2845,44,78 2759,88,05
XII. Other expenditure 14608,64,16 13245,92,81
12 STANDALON
E
TOTAL 69687,73,74 59943,44,64
STANDALO 1
Schedule 17- Significant Accounting Policies: apportioned between principal and finance
income based on a pattern reflecting a
A. Basis of Preparation: constant periodic return on the net
The Bank’s financial statements are prepared under the investment outstanding in respect of
historical cost convention, on the accrual basis of finance leases. The principal amount is
accounting on Going Concern basis, unless otherwise utilized for reduction in balance of net
stated and conform in all material aspects to Generally investment in lease and finance income is
Accepted Accounting Principles (GAAP) in India, which reported as interest income.
comprise applicable statutory provisions, regulatory
norms/ guidelines prescribed by Reserve Bank of India
(RBI), Banking Regulation Act, 1949, Accounting
Standards issued by Institute of Chartered Accountants
of India (ICAI), and the practices prevalent in the banking
industry in India.
B. Use of Estimates:
The preparation of financial statements requires the
management to make estimates and assumptions
considered in the reported amount of assets and
liabilities (including contingent liabilities) as on the date
of the financial statements and the reported income and
expenses during the reporting period. Management
believes that the estimates used in preparation of the
financial statements are prudent and reasonable. Future
results could differ from these estimates.
C. Significant Accounting Policies:

1. Revenue recognition:
1.1 Income and expenditure are accounted on
accrual basis, except otherwise stated. As
regards Bank’s foreign offices, income and
expenditure are recognised as per the local
laws of the country in which the respective
foreign office is located.
1.2 Interest/ Discount income is recognised in the
Profit and Loss Account as it accrues except: (i)
income from Non-Performing Assets (NPAs),
comprising of advances, leases and
investments, which is recognised upon
realisation, as per the prudential norms
prescribed by RBI/ respective country
regulators in the case of foreign offices
(hereafter collectively referred to as
Regulatory Authorities), (ii) overdue interest on
investments and bills discounted,
(iii) Income on Rupee Derivatives designated
as “Trading”, which are accounted on
realisation.
1.3 Profit or Loss on sale of investments is
recognised in the Profit and Loss Account.
However, profit on sale of investments in the
“Held to Maturity” category is appropriated
(net of applicable taxes and amount required
to be transferred to “Statutory Reserve
Account”) to “Capital Reserve Account”.
1.4 Income from finance leases is calculated by
applying the interest rate implicit in the lease
to the net investment outstanding in the lease,
over the primary lease period. Leases effective
from April 1, 2001 are accounted as advances
at an amount equal to the net investment in
the lease as per Accounting Standard 19
–“Leases” issued by ICAI. The lease rentals are
14 STANDALON
E
1.5 Income (other than interest) on investments in
“Held to Maturity (HTM)” category acquired at a
discount to the face value, is recognised as
follows:
a. on interest bearing securities, it is recognised
only at the time of sale/ redemption.
b. on zero-coupon securities, it is
accounted for over the balance tenor of the
security on a constant yield basis.
1.6 Dividend income is recognised when the right to
receive the dividend is established.
1.7 Commission on LC/ BG, Deferred Payment
Guarantee, Government Business, ATM
interchange fee & “Upfront fee on restructured
account” are recognised on accrual basis
proportionately for the period. All other
commission and fee income are recognised on
their realisation.
1.8 One time Insurance Premium paid under Special
Home Loan Scheme (December 2008 to June
2009) is amortised over the average loan period
of 15 years.
1.9 Brokerage, Commission etc. paid/ incurred in
connection with the issue of Bonds/ Deposits are
amortized over the tenure of related Bonds/
Deposits and the expenses incurred in connection
with the issue are charged upfront.
1.10 The sale of NPA is accounted as per guidelines
prescribed by RBI:
i. When the Bank sells its financial assets to
Securitisation Company (SC)/ Reconstruction
Company (RC), the same is removed from the
books.
ii. If the sale is at a price below the Net Book
Value (NBV) (i.e. book value less provisions
held), the shortfall is debited to the Profit and
Loss Account in the year of sale.
iii. If the sale is for a value higher than the NBV,
the excess provision is written back in the
year the amounts are received, as permitted
by the RBI.
2. Investments:
The transactions in all securities are recorded on
“Settlement Date”.
2.1 Classification:
Investments are classified into three categories
viz. Held to Maturity (HTM), Available for Sale
(AFS) and Held for Trading (HFT) as per RBI
Guidelines.
2.2 Basis of classification:
i. Investments that the Bank intends to hold till
maturity are classified as “Held to Maturity
(HTM)”.
ii. Investments that are held principally for
resale within 90 days from the date of
purchase are classified as “Held for Trading
(HFT)”.
STANDALO 1
iii. Investments, which are not classified in v. Available for Sale and Held for Trading
above two categories, are classified as categories: Investments held under AFS
“Available for Sale (AFS)”. and HFT categories are individually
revalued at market price or fair value
iv. An investment is classified as HTM, HFT
determined as per
or AFS at the time of its purchase and
subsequent shifting amongst categories is
done in conformity with regulatory
guidelines.
v. Investments in subsidiaries, joint ventures
and associates are classified as HTM.
2.3 Valuation:
i. In determining the acquisition cost of an
investment:
(a) Brokerage/ commission received on
subscriptions is reduced from the
cost.
(b) Brokerage, Commission, Securities
Transaction Tax (STT) etc. paid in
connection with acquisition of
investments are expensed upfront
and excluded from cost.
(c) Broken period interest paid/ received
on debt instruments is treated as
interest expense/ income and is
excluded from cost/ sale
consideration.
(d) Cost is determined on the weighted
average cost method for investments
under AFS and HFT category and on
FIFO basis (first in first out) for
investments under HTM category.
ii. Transfer of securities from HFT/ AFS
category to HTM category is carried out at
the lower of acquisition cost/ book value/
market value on the date of transfer. The
depreciation, if any, on such transfer is
fully provided for. However, transfer of
securities from HTM category to AFS
category is carried out on acquisition
price/ book value. After transfer, these
securities are immediately revalued and
resultant depreciation, if any, is provided.
iii. Treasury Bills and Commercial Papers are
valued at carrying cost.
iv. Held to Maturity category: a) Investments
under Held to Maturity category are
carried at acquisition cost unless it is more
than the face value, in which case the
premium is amortised over the period of
remaining maturity on constant yield
basis. Such amortisation of premium is
adjusted against income under the head
“interest on investments”. b) Investments
in subsidiaries, joint ventures and
associates (both in India and abroad) are
valued at historical cost. A provision is
made for diminution, other than
temporary, for each investment
individually. c) Investments in Regional
Rural Banks are valued at carrying cost
(i.e. book value).
16 STANDALON
E
the regulatory guidelines and only the net provisions for NPIs are made as per
depreciation of each group for each the local regulations or as per the
category (viz. (i) Government securities, (ii) norms of RBI, whichever is more
Other Approved Securities, (iii) Shares, (iv) stringent.
Bonds and Debentures,
(v) Subsidiaries and Joint Ventures and (vi)
others) is provided for and net
appreciation is ignored. On provision for
depreciation, the book value of the
individual security remains unchanged
after marking to market.
vi. In case of sale of NPA (financial
asset) to Securitisation Company (SC)/
Asset Reconstruction Company (ARC)
against issue of Security Receipts (SR),
investment in SR is recognised at lower
of: (i) Net Book Value (NBV) (i.e. book
value less provisions held) of the financial
asset; and (ii) Redemption value of SR.
SRs issued by an SC/ ARC are valued in
accordance with the guidelines
applicable to non-SLR instruments.
Accordingly, in cases where the SRs
issued by the SC/ ARC are limited to the
actual realisation of the financial assets
assigned to the instruments in the
concerned scheme, the Net Asset Value,
obtained from the SC/ ARC, is reckoned
for valuation of such investments.
vii. Investments are classified as performing
and non- performing, based on the
guidelines issued by RBI in case of
domestic offices and respective regulators
in case of foreign offices. Investments of
domestic offices become non-performing
where:
(a) Interest/ installment (including
maturity proceeds) is due and
remains unpaid for more than 90
days.
(b) In the case of equity shares, in the
event the investment in shares of
any company is valued at ` 1 per
company on account of non
availability of the latest balance
sheet, those equity shares would be
reckoned as NPI.
(c) If any credit facility availed by an
entity is NPA in the books of the
Bank, investment in any of the
securities issued by the same entity
would also be treated as NPI and vice
versa.
(d) The above would apply mutatis-
mutandis to Preference Shares where
the fixed dividend is not paid.
(e) The investments in debentures/
bonds, which are deemed to be in
the nature of advance, are also
subjected to NPI norms as applicable
to investments.
(f) In respect of foreign offices,
STANDALO 1
viii. Accounting for Repo/ Reverse Repo duration crops, where the principal or
transactions (other than transactions interest remains overdue for one crop
under the Liquidity Adjustment Facility season.
(LAF) with RBI):
3.2 NPAs are classified into Sub-Standard,
(a) The securities sold and purchased
Doubtful and Loss Assets, based on the
under Repo/ Reverse Repo are
following criteria stipulated by RBI:
accounted as Collateralized lending
and borrowing transactions. However,
securities are transferred as in the
case of normal outright sale/
purchase transactions and such
movement of securities is reflected
using the Repo/ Reverse Repo
Accounts and contra entries. The
above entries are reversed on the
date of maturity. Costs and
revenues are accounted as interest
expenditure/ income, as the case
may be. Balance in Repo Account is
classified under Schedule 4
(Borrowings) and balance in Reverse
Repo Account is classified under
Schedule 7 (Balance with Banks and
Money at call & short notice).
(b) Interest expended/ earned on
Securities purchased/ sold under LAF
with RBI is accounted for as
expenditure/ revenue.
ix. Market repurchase and reverse
repurchase transactions as well as the
transactions with RBI under Liquidity
Adjustment Facility (LAF) are accounted
for as Borrowings and Lending
transactions in accordance with the extant
RBI guidelines.
3. Loans/ Advances and Provisions thereon:

3.1 Loans and Advances are classified as
performing and non-performing, based on the
guidelines/ directives issued by the RBI. Loan
Assets become Non- Performing Assets (NPAs)
where:
i. In respect of term loans, interest and/
or instalment of principal remains overdue
for a period of more than 90 days;
ii. In respect of Overdraft or Cash Credit
advances, the account remains “out of
order”, i.e. if the outstanding balance
exceeds the sanctioned limit/ drawing
power continuously for a period of 90
days, or if there are no credits
continuously for 90 days as on the date of
balance sheet, or if the credits are not
adequate to cover the interest debited
during the same period;
iii. In respect of bills purchased/ discounted,
the bill remains overdue for a period of
more than 90 days;
iv. In respect of agricultural advances: (a) for
short duration crops, where the instalment
of principal or interest remains overdue
for two crop seasons; and (b) for long
18 STANDALON
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i. Sub-standard: A loan asset that has Balance Sheet under the head “Other
remained non-performing for a period less Liabilities & Provisions – Others” and are not
than or equal to 12 months. considered for arriving at the Net NPAs.
ii. Doubtful: A loan asset that has remained in
the sub-standard category for a period of
12 months.
iii. Loss: A loan asset where loss has been
identified but the amount has not been
fully written off.
3.3 Provisions are made for NPAs as per the extant
guidelines prescribed by the regulatory
authorities, subject to minimum provisions as
prescribed below:
Substandard Assets:
i. A general provision of 15% on the total
outstanding;
ii. Additional provision of 10% for exposures
which are unsecured ab-initio (i.e. where
realisable value of security is not more
than 10 percent ab- initio);
iii. Unsecured Exposure in respect of
infrastructure advances where certain
safeguards such as escrow accounts are
available - 20%.
Doubtful Assets:
- Secured portion:
i. Upto one year – 25%
ii. One to three years – 40%
iii. More than three years – 100%
- Unsecured portion 100%
Loss Assets: 100%
3.4 In respect of foreign offices, the classification of
loans and advances and provisions for NPAs are
made as per the local regulations or as per the
norms of RBI, whichever is more stringent.
3.5 Advances are net of specific loan loss
provisions, unrealised interest, ECGC claims
received and bills rediscounted.
3.6 For restructured/ rescheduled assets, provisions
are made in accordance with the guidelines
issued by the RBI, which require that the
difference between the fair value of the loans/
advances before and after restructuring is
provided for, in addition to provision for the
respective loans/ advances. The Provision for
Diminution in Fair Value (DFV) and interest
sacrifice, if any, arising out of the above, is
reduced from advances.
3.7 In the case of loan accounts classified as NPAs,
an account may be reclassified as a
performing asset if it conforms to the guidelines
prescribed by the regulators.
3.8 Amounts recovered against debts written off in
earlier years are recognised as revenue in the
year of recovery.
3.9 In addition to the specific provision on NPAs,
general provisions are also made for standard
assets as per extant RBI Guidelines. These
provisions are reflected in Schedule 5 of the
STANDALO 1
3.10 Appropriation of recoveries in NPAs (not out of

fresh/ additional credit facilities sanctioned to settlement in future and if the derivative
the borrower concerned) towards principal or contract is not terminated on the overdue
interest due as per the Bank’s extant receivables remaining unpaid for 90 days, the
instructions is done in accordance with the positive MTM pertaining to future receivables
following priority: is also reversed from Profit and Loss
Account to “Suspense Account - Positive MTM”.
a. Charges
b. Unrealized Interest / Interest 6.4 Option premium paid or received is recorded in
Profit and Loss Account at the expiry of the
c. Principal
option. The balance in the premium received
on options sold and premium paid on options
4. Floating Provisions:
bought is considered to arrive at Mark-to-
The Bank has a policy for creation and Market value for forex Over-the- Counter
utilisation of floating provisions separately for (OTC) options.
advances, investments and general purposes.
The quantum of floating provisions to be 6.5 Exchange Traded Derivatives entered into for
created is assessed at the end of the financial trading purposes are valued at prevailing
year. The floating provisions are utilised only market rates based on rates given by the
for contingencies under extraordinary Exchange and the resultant gains and losses
circumstances specified in the policy with prior are recognized in the Profit and Loss Account.
permission of Reserve Bank of India.
7. Fixed Assets, Depreciation and Amortisation:
5. Provision for Country Exposure: 7.1 Fixed Assets are carried at cost less
In addition to the specific provisions held accumulated depreciation/ amortisation.
according to the asset classification status, 7.2 Cost includes cost of purchase and all
provisions are also made for individual country expenditure such as site preparation,
exposures (other than the home country). installation costs and professional fees
Countries are categorised into seven risk incurred on the asset before it is put to use.
categories, namely, insignificant, low, Subsequent expenditure(s) incurred on the
moderate, high, very high, restricted and off- assets put to use are capitalised only when it
credit and provisioning made as per extant increases the future benefits from such assets
RBI guidelines. If the country exposure (net) of or their functioning capability.
the Bank in respect of each country does not
exceed 1% of the total funded assets, no 7.3 The rates of depreciation and method of
provision is maintained on such country charging depreciation in respect of domestic
exposures. The provision is reflected in operations are as under:
Schedule 5 of
the Balance Sheet under the head “Other Liabilities &
Provisions – Sr. Description of Fixed Method of Depreciation/ amortisation

Others”. No. Assets charging rate
6. Derivatives: depreciation
6.1 The Bank enters into derivative contracts, 1 Computers Straight Line 33.33% every year
such as foreign currency options, interest rate Method
swaps, currency swaps, cross currency 2 Computer Software Straight Line 33.33% every
interest rate swaps year forming an integral part of Method
and forward rate agreements in order to hedge on- the
Computer hardware
balance sheet/ off-balance sheet assets and 3 Computer Software Straight 33.33% every year
liabilities or for trading purposes. The swap which does not form Line
contracts entered to hedge on-balance sheet an integral part of Method
assets and liabilities are structured in such a Computer hardware
way that they bear an opposite and cost of
and offsetting impact with the Software Development
underlying on-
balance sheet items. The impact of such 4 Automated Teller Straight 20.00% every year
derivative instruments is correlated with the Machine/ Cash Deposit Line
movement of the underlying assets and Machine/ Coin Method
accounted in accordance with Dispenser/
the principles of hedge Coin Vending Machine
accounting.
5 Server Straight Line 25.00% every year
6.2 Derivative contracts classified as hedge are Method
recorded on accrual basis. Hedge contracts are 6 Network Equipment Straight Line 20.00% every year
not marked to market unless the underlying Method
assets/ liabilities are also
marked to market. per the Generally respect of
Accepted Accounting derivative contracts
6.3 Except as mentioned above, all other Practices prevalent in that are marked to
derivative contracts are marked to market as the industry. In market, changes in
20 STANDALON
E
the market value are recognised in the Profit 7 Other fixed assets Straight On the basis of estimated useful
Line life of the assets.
and Loss Account in the Method
Estimated useful life of
major group of Fixed
Assets are as under:
Premises 60 Years
Vehicles 05
Years Safe Deposit
period of change. Any receivable under Lockers 20 Years
derivative
contracts, which remain overdue for more
than 90
days, are reversed through Profit and Loss Furniture &
Account to “Suspense Account Crystallised Fixtures 10
Receivables”. In cases where the derivative
contracts provide for more
STANDALO 2
7.4 In respect of assets acquired during the year reporting currency by applying to the
(for domestic operations), depreciation is foreign currency amount the exchange
charged on proportionate basis for the number rate between the reporting currency and
of days the assets have been put to use during the foreign currency on the date of
the year. transaction.
7.5 Assets costing less than ` 1,000 each are
charged off in the year of purchase.
7.6 In respect of leasehold premises, the lease
premium, if any, is amortised over the period
of lease and the lease rent is charged in the
respective year(s).
7.7 In respect of assets given on lease by the Bank
on or before 31st March 2001, the value of the
assets given on lease is disclosed as Leased
Assets under Fixed Assets, and the difference
between the annual lease charge (capital
recovery) and the depreciation is taken to
Lease Equalisation Account.
7.8 In respect of fixed assets held at foreign
offices, depreciation is provided as per the
regulations / norms of the respective
countries.
7.9 The Bank considers only immovable assets for
revaluation. Properties acquired during the last
three years are not revalued. Valuation of the
revalued assets is done at every three years
thereafter.
7.10 The increase in Net Book Value of the asset
due to revaluation is credited to the
Revaluation Reserve Account without routing
through the Profit and Loss Account. The
depreciation provided on the increase in the
Net Book Value is recouped from Revaluation
Reserve.
7.11 The Revalued Asset is depreciated over the
balance useful life of the asset as assessed at
the time of revaluation.
8. Leases:
The asset classification and provisioning norms
applicable to advances, as laid down in Para 3
above, are applied to financial leases also.
9. Impairment of Assets:
Fixed Assets are reviewed for impairment
whenever events or changes in circumstances
warrant that the carrying amount of an asset
may not be recoverable. Recoverability of
assets to be held and used is measured by a
comparison of the carrying amount of an
asset to future Net Discounted Cash Flows
expected to be generated by the asset. If such
assets are considered to be impaired, the
impairment to be recognised is measured by
the amount by which the carrying amount of
the asset exceeds the fair value of the asset.
10. Effect of changes in the foreign exchange rate:

10.1 Foreign Currency Transactions:
i. Foreign currency transactions are
recorded on initial recognition in the
22 STANDALON
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ii. Foreign currency monetary items are offices in foreign currency (other than
reported using the Foreign Exchange local currency of the foreign offices)
Dealers Association of India (FEDAI) closing are translated into local currency
(spot/ forward) rates. using spot rates applicable to that
country on the balance sheet date.
iii. Foreign currency non-monetary items,
which are carried at historical cost, are
reported using the exchange rate on the
date of the transaction.
iv. Contingent liabilities denominated in
foreign currency are reported using the
FEDAI closing spot rates.
v. Outstanding foreign exchange spot and
forward contracts held for trading are
revalued at the exchange rates notified by
FEDAI for specified maturities, and the
resulting Profit or Loss is recognised in the
Profit and Loss Account.
vi. Foreign exchange forward contracts which
are not intended for trading and are
outstanding on the balance sheet date,
are re-valued at the closing spot rate. The
premium or discount arising at the
inception of such forward exchange
contract is amortised as expense or income
over the life of the contract.
vii. Exchange differences arising on the
settlement of monetary items at rates
different from those at which they were
initially recorded are recognised as income
or as expense in the period in which they
arise.
viii. Gains/ Losses on account of changes in
exchange rates of open position in currency
futures trades are settled with the
exchange clearing house on daily basis and
such gains/ losses are recognised in the
Profit and Loss Account.
10.2 Foreign Operations:

Foreign Branches of the Bank and Offshore
Banking Units (OBU) have been classified as
Non-integral Operations and Representative
Offices have been classified as Integral
Operations.
a. Non-integral Operations:
i. Both monetary and non-monetary
foreign currency assets and liabilities
including contingent liabilities of non-
integral foreign operations are
translated at closing exchange rates
notified by FEDAI at the Balance Sheet
date.
ii. Income and expenditure of non-
integral foreign operations are
translated at quarterly average closing
rates notified by FEDAI.
iii. Exchange differences arising on
investment in non-integral foreign
operations are accumulated in Foreign
Currency Translation Reserve until the
disposal of the investment.
iv. The Assets and Liabilities of foreign
STANDALO 2
occurs upon completion of five

b. Integral Operations: years of service. The Bank makes
periodic contributions to a fund
administered by Trustees based
on an independent external
reporting currency by applying to the
actuarial valuation carried out
foreign currency amount the
annually.
exchange rate between the reporting
currency and the foreign currency on
the date of transaction.
ii. Monetary foreign currency assets and
liabilities of integral foreign
operations are translated at closing
(Spot/ Forward) exchange rates
notified by FEDAI at the balance
sheet date and the resulting Profit/
Loss is included in the Profit and Loss
Account. Contingent Liabilities are
translated at Spot rate.
iii. Foreign currency non-monetary
items which are carried at historical
cost are reported using the exchange
rate on the date of the transaction.
11. Employee Benefits:
11.1 Short Term Employee Benefits:
The undiscounted amounts of short-term
employee benefits, such as medical benefits
which are expected to be paid in exchange for
the services rendered by employees, are
recognised during the period when the
employee renders the service.
11.2 Long Term Employee Benefits:
i. Defined Benefit Plans:
a. The Bank operates a Provident Fund
scheme. All eligible employees are
entitled to receive benefits under the
Bank’s Provident Fund scheme. The
Bank contributes monthly at a
determined rate (currently 10% of
employee’s basic pay plus eligible
allowance). These contributions are
remitted to a Trust established for
this purpose and are charged to Profit
and Loss Account. The Bank
recognizes such annual contributions
as an expense in the year to which it
relates. Shortfall, if any, is provided
for on the basis of actuarial valuation.
b. The Bank operates Gratuity and
Pension schemes which are defined
benefit plans.
i) The Bank provides for gratuity to
all eligible employees. The
benefit is in the form of lump
sum payments to vested
employees on retirement, or on
death while in employment, or
on termination of employment,
for an amount equivalent to 15
days basic salary payable for
each completed year of service,
subject to the cap prescribed by
the Statutory Authorities. Vesting
24 STANDALON
E
projected unit credit method with
ii) The Bank provides for pension to actuarial valuations being carried out
all eligible employees. The at each Balance Sheet date. Past
benefit is in the form of monthly service cost is immediately
payments as per rules to vested recognised in the Profit and Loss
employees on retirement or on Account and is not deferred.
death while in employment, or
on termination of employment.
Vesting occurs at different
stages as per rules. The Bank
makes monthly contribution to
the Pension Fund at 10% of
salary in terms of SBI Pension
Fund Rules. The pension liability
is reckoned based on an
independent actuarial valuation
carried out annually and
Bank makes such additional
contributions periodically to the
Fund as may be required to
secure payment of the benefits
under the pension regulations.
c. The cost of providing defined benefits is
determined using the projected unit credit
method, with actuarial valuations being
carried out at each balance sheet date.
Actuarial gains/ losses are immediately
recognised in the Profit and Loss Account
and are not deferred.
ii. Defined Contribution Plan:
The Bank operates a New Pension
Scheme (NPS) for all officers/ employees
joining the Bank on or after 1st August,
2010, which is a defined contribution
plan, such new joinees not being entitled
to become members of the existing SBI
Pension Scheme. As per the scheme, the
covered employees contribute 10% of
their basic pay plus dearness allowance to
the scheme together with a matching
contribution from the Bank. Pending
completion of registration procedures of
the employees concerned, these
contributions are retained as deposits in
the Bank and earn interest at the same
rate as that of the current account of
Provident Fund balance. The Bank
recognizes such annual contributions and
interest as an expense in the year to
which they relate. Upon receipt of the
Permanent Retirement Account Number
(PRAN), the consolidated contribution
amounts are transferred to the NPS Trust.
iii. Other Long Term Employee Benefits:
a. All eligible employees of the Bank
are eligible for compensated
absences, silver jubilee award, leave
travel concession, retirement award
and resettlement allowance. The
costs of such long term employee
benefits are internally funded by the
Bank.
b. The cost of providing other long term
benefits is determined using the
STANDALO 2
11.3 Employee benefits relating to employees Chartered Accountants of India, the Bank
employed at foreign offices are valued and recognises provisions only when it has a
accounted for as per the respective local laws/ present obligation as a result of a past
regulations. event, and would result in a probable
outflow of resources embodying
12. Taxes on income: economic benefits will be required to
Income tax expense is the aggregate amount settle the obligation, and when a reliable
of current tax and deferred tax expense estimate of the amount of the obligation
incurred by the Bank. The current tax can be made.
expense and deferred tax expense are
determined in accordance with the provisions
of the Income Tax Act, 1961 and as per
Accounting Standard 22 – “Accounting for
Taxes on Income” respectively after taking into
account taxes paid at the foreign offices,
which are based on the tax laws of respective
jurisdictions. Deferred Tax adjustments
comprises of changes in the deferred tax
assets or liabilities during the year. Deferred
tax assets and liabilities are recognised by
considering the impact of timing differences
between taxable income and accounting
income for the current year, and carry forward
losses. Deferred tax assets and liabilities are
measured using tax rates and tax laws that
have been enacted or substantively enacted at
the balance sheet date. The impact of changes
in deferred tax assets and liabilities is
recognised in the profit and loss account.
Deferred tax assets are recognised and re-
assessed at each reporting date, based upon
management’s judgment as to whether their
realisation is considered as reasonably certain.
Deferred Tax Assets are recognised on carry
forward of unabsorbed depreciation and tax
losses only if there is virtual certainty
supported by convincing evidence that such
deferred tax assets can be realised against
future profits.
13. Earnings per Share:

13.1 The Bank reports basic and diluted
earnings per share in accordance with AS
20 –“Earnings per Share” issued by the
ICAI. Basic Earnings per Share are
computed by dividing the Net Profit after
Tax for the year attributable to equity
shareholders by the weighted average
number of equity shares outstanding for
the year.
13.2 Diluted Earnings per Share reflect the
potential dilution that could occur if
securities or other contracts to issue
equity shares were exercised or converted
during the year. Diluted Earnings per
Share are computed using the weighted
average number of equity shares and
dilutive potential equity shares
outstanding at year end.
14. Provisions, Contingent Liabilities and Contingent

Assets:
14.1 In conformity with AS 29, “Provisions,
Contingent Liabilities and Contingent
Assets”, issued by the Institute of
26 STANDALON
E
14.2 No provision is recognised for: Premium Account.
i. any possible obligation that arises
from past events and the existence of
which will be confirmed only by the
occurrence or non- occurrence of one
or more uncertain future events not
wholly within the control of the Bank;
or
ii. any present obligation that arises from
past events but is not recognised
because:
a. it is not probable that an outflow
of resources embodying
economic benefits will be
required to settle the obligation;
or
b. a reliable estimate of the amount
of obligation cannot be made.
Such obligations are recorded as
Contingent Liabilities. These are
assessed at regular intervals and
only that part of the obligation
for which an outflow of resources
embodying economic benefits is
probable, is provided for, except
in the extremely rare
circumstances where no reliable
estimate can be made.
14.3 Provision for reward points in relation to
the debit card holders of the Bank is being
provided for on actuarial estimates.
14.4 Contingent Assets are not recognised in the
financial statements.
15. Bullion Transactions:

The Bank imports bullion including precious
metal bars on a consignment basis for selling to
its customers. The imports are typically on a
back-to-back basis and are priced to the
customer based on price quoted by the supplier.
The Bank earns a fee on such bullion
transactions. The fee is classified under
commission income. The Bank also accepts
deposits and lends gold, which is treated as
deposits/ advances as the case may be with the
interest paid/ received classified as interest
expense/ income. Gold Deposits, Metal Loan
Advances and closing Gold Balances are valued
at available Market Rate as on the date of
Balance Sheet.
16. Special Reserves:

Revenue and other Reserve include Special
Reserve created under Section 36(i)(viii) of the
Income Tax Act, 1961. The Board of Directors of
the Bank has passed a resolution approving
creation of the reserve and confirming that it
has no intention to make withdrawal from the
Special Reserve.
17. Share Issue Expenses:

Share issue expenses are charged to the Share
STANDALO 2
Schedule 18
NOTES TO ACCOUNTS
18.1 Capital
1. Capital Ratio
AS PER BASEL II (Amount in ` crore)
Sr. Items As at As at
No. 31st March, 2019 31st March, 2018
(i) Common Equity Tier 1 Capital Ratio (%) N.A.
(ii) Tier 1 Capital Ratio (%) 10.38% 10.02%

(iii) Tier 2 Capital Ratio (%) 2.47% 2.72%
(iv) Total Capital Ratio (%) 12.85% 12.74%
AS PER BASEL III

Sr. Items As at As at
No. 31st March, 2019 31st March, 2018
(i) Common Equity Tier 1 Capital Ratio (%) 9.62% 9.68%
(ii) Tier 1 Capital Ratio (%) 10.65% 10.36%
(iii) Tier 2 Capital Ratio (%) 2.07% 2.24%
(iv) Total Capital Ratio (%) 12.72% 12.60%
(v) Percentage of the Shareholding of Government of India 57.13% 58.03%
(vi) Number of Shares held by Government of India 509,88,82,979 517,89,88,645
(vii) Amount of Equity Capital raised 0.38 23,813.69
(viii) Amount of Additional Tier 1(AT 1) capital raised of which
a) Perpetual Non-Cumulative Preference Shares (PNCPS) Nil Ni
b) Perpetual Debt Instruments (PDI) 7,317.3 l
0 2,000.0
0
(ix) Amount of Tier 2 capital raised of which
a) Debt Capital Instruments: 4,115.9 Nil
b) Preference Share Capital Instruments: 0 Nil
{Perpetual Cumulative Preference Shares (PCPS)/Redeemable Non- Nil
Cumulative Preference Shares (RNCPS)/Redeemable Cumulative Preference
Shares (RCPS)}
RBI vide circular No. DBR.No.BP.BC.83/21.06.201/2015-16 dated 1st March, 2016, has given discretion to banks to
consider Revaluation Reserve, Foreign Currency Translation Reserve and Deferred Tax Asset for purposes of
computation of Capital Adequacy as CET– I capital ratio. The Bank has exercised the option in the above computation.
2. Share Capital
a) The Bank received application money of ` 0.38
b) Expenses in relation to the issue of shares: `
crore including share premium of ` 0.38
9.12 crore (Previous Year ` 17.60 crore) is
crore by way of the issue of 24,000 equity
debited to Share Premium Account.
shares of ` 1 each kept in abeyance due to
various title disputes or third party claims out
of the Right Issue closed on 18.03.2008. The
equity shares kept in abeyance were allotted
on 31.01.2019.
28 STANDALON
E
3. Innovative Perpetual Debt Instruments (IPDI)

The details of IPDI issued which qualify for Hybrid Tier I Capital and outstanding are as under:
A. Foreign
(` in
crore)
Particulars Date of Tenor Amount Equivalent Equivalent
Issue ` as on ` as
31st March, 2019 on 31st March,
2018
Additional Tier 1 (AT1) Bonds issued 22.09.2016 Perpetu USD 300 2,074.6 1,955.2
under MTN Programme 29th series al Non million 5 5
Call 5
years
These bonds have been listed in Singapore stock exchange (SGX).
B. Domestic
(` in crore)
Sr. Nature of Bonds Principal Date of Issue Rate of Interest
No. Amount % p.a.
1. SBI Non Convertible Perpetual Bonds 2009-10 (Tier I) Series I 1,000.00 14.08.2009 9.10
2. e-SBM Tier -I 100.00 25.11.2009 9.10
3. e-SBP Tier -I Series I 300.00 18.01.2010 9.15
4. SBI Non Convertible Perpetual Bonds 2009-10 (Tier I) Series II 1,000.00 27.01.2010 9.05
5. e-SBH Tier -I Series XII 135.00 24.02.2010 9.20
6. e-SBH Tier -I Series XIII 200.00 20.09.2010 9.05
7. SBI Non Convertible Perpetual Bonds 2016 Unsecured Basel III 2,100.00 06.09.2016 9.00
AT 1
AT
1 Series II
AT
1 Series III
AT
1 Series IV
11. SBI Non Convertible, Unsecured, Basel III- AT 1 Bonds 2018 4,021.00 04.12.2018 9.56
Series II
Series III
TOTAL 19,152.30*
*Includes ` 2,000 crore raised during the F.Y. 2009-10, of which ` 550 crore invested by SBI Employee Pension Fund,
not reckoned for the purpose of Tier I Capital as per RBI instructions.
STANDALO 2
4. Subordinated Debts
The bonds are unsecured, long term, non–convertible and are redeemable at par. The details of outstanding
subordinate debts are as under:-
(` in crore)
Sr. Nature of Bonds Principal Date of Issue/ Rate of Maturity

No. Amount Date of Interest % Period In
Redemption P.A. Months
1 e-SBBJ Lower Tier II 500.00 20.03.2012 9.02 120
(Series VI) 20.03.2022
2 SBI Non Convertible 2,000.00 02.01.2014 9.69 120

(Private placement) Bonds 2013-14 ( Tier II) 02.01.2024
3 e-SBH Upper Tier II 325.00 05.06.2009 8.39 180

(Series IX) 05.06.2024
4 e- SBH Upper Tier II 450.00 21.08.2009 8.50 180

(Series X) 21.08.2024
5 e -SBH Upper Tier II 475.00 08.09.2009 8.60 180

(Series XI) 08.09.2024
6 e-SBM Tier II 500.00 17.12.2014 8.55 120

Basel III compliant 17.12.2024
7 e -SBP Tier II 950.00 22.01.2015 8.29 120

Basel III compliant (series I) 22.01.2025
8 e- SBBJ Tier II 200.00 20.03.2015 8.30 120

9 e -SBH Tier II 393.00 31.03.2015 8.32 120

Basel III compliant (Series XIV) 31.03.2025
10 SBI Non Convertible 866.92 04.11.2010 9.50 180

(Public issue) Bonds 2010 (Series II) 04.11.2025
(Lower Tier II)
11 SBI Non Convertible, Unsecured 4,000.00 23.12.2015 8.33 120

(Private Placement), Basel III compliant 23.12.2025
Tier II Bonds 2015-16 (Series I)
12 e -SBH Tier II 500.00 30.12.2015 8.40 120

Basel III compliant (Series XV) 30.12.2025
30 STANDALON
E
(` in crore)
Sr. Nature of Bonds Principal Date of Issue/ Rate of Maturity

No. Amount Date of Interest % Period In
Redemption P.A. Months
13 e-SBM Tier II 300.00 31.12.2015 8.40 120
14 e-SBM Tier II 200.00 18.01.2016 8.45 120

15 e -SBH Tier II 200.00 08.02.2016 8.45 120

Basel III compliant (Series XVI) 08.02.2026

(Private Placement), Basel III compliant Tier 2 18.02.2026
Bonds
2015-16 (Series II)
17 SBI Non Convertible 3,937.60 16.03.2011 9.95 180

(Public issue) Bonds 2011 Retail 16.03.2026
(Series IV) (Lower Tier II)
18 SBI Non Convertible 828.32 16.03.2011 9.45 180

(Public issue) Bonds 2011 Non Retail 16.03.2026
(Series IV) (Lower Tier II)

(Private Placement), Basel III compliant Tier II 18.03.2026
Bonds
2015-16 (Series III)
20 SBI Non Convertible, Unsecured 500.00 21.03.2016 8.45 120

(Private Placement), Basel III compliant Tier II 21.03.2026
Bonds
2015-16 (Series IV)
21 e- SBT Tier II 515.00 30.03.2016 8.45 120

Basel III compliant (Series I) 30.03.2026
22 e- SBT Upper Tier II 500.00 26.03.2012 9.25 180

(Series III) 26.03.2027

Basel III - Tier II Bonds 2018 02.11.2028
TOTAL 28,256.74
STANDALO 3
18.2. Investments
1. The Details of investments and the movement of provisions held towards depreciation on investments of
the Bank are given below:
(` in crore)
Particulars As at As at
31st March, 2019 31st March, 2018
1. Value of Investments
i) Gross value of Investments
(a) In India 9,26,650.60 10,26,438.37
(b) Outside India 51,473.40 46,658.94
ii) Provision for Depreciation
(a) In India 9,094.19 9,698.21
(b) Outside India 158.22 508.24
iii) Liability on Interest Capitalised on Restructured Accounts (LICRA) 1,849.64 1,904.15
iv) Net value of Investments
(a) In India 9,15,706.77 10,14,836.01
(b) Outside India 51,315.18 46,150.70
2. Movement in provisions held towards depreciation on investments
i) Balance at the beginning of the year 10,206.45 642.76
ii) Add: Provisions made during the year 1,863.13 9,959.55
iii) Less: Provision utilised during the year - 16.51
iv) Less/(Add): Foreign Exchange revaluation adjustment (22.24) (5.65)
v) Less: Write off/Write back of excess provision during the year. 2,839.41 385.00
vi) Balance at the end of the year 9,252.41 10,206.45
Notes:
a. Provisions made during the previous year includes
the receipt from erstwhile Associate Banks (ABs) d. During the year, the Bank has sold its 4% stake in
and Bharatiya Mahila Bank Limited (BMBL) on SBI General Insurance Company Ltd. at a profit of `
acquisition. 473.12 crore. Thus, the Bank stake has reduced
from 74.00% to 70.00%.
b. Securities amounting to ` 21,219.41 crore
(Previous Year ` 40,992.04 crore) are kept as e. The Bank exited from an RRB as per details given below: -
margin with Clearing Corporation of India Limited (` in crore)
(CCIL)/ NSCCL/MCX/ NSEIL/ BSE towards Securities
Settlement. Name of RRB Amount
Malwa Gramin Bank 0.35
c. During the year, the Bank infused additional capital
in its subsidiaries and associates viz. i) SBI Cards &
Payments Services Private Ltd. ` 347.80 crore, ii) SBI
Infra Management Solutions Pvt. Ltd. ` 30.00 crore,
iii) SBI Payment Services Pvt. Ltd. ` 2.50 crore, iv)
State Bank of India (UK) Ltd.
` 1,604.43 crore, v) Jio Payments Bank Ltd. ` 30.00
crore, vi) Utkal Grameen Bank ` 63.14 crore, vii)
Madyanchal Gramin Bank ` 57.63 crore, viii)
Rajasthan Marudhara Gramin Bank
` 7.28 crore, ix) Nagaland Rural Bank ` 0.65 crore
and after infusion there is no change in Bank’s
stake.
32 STANDALON
E
2. Repo Transactions including Liquidity Adjustment Facility (LAF) (in face value terms)
The details of securities sold and purchased under repos and reverse repos including LAF during the year are
given below:
(` in crore)
Particulars Minimum Maximum Daily Average Balance as on 31st
outstanding outstanding outstanding March 2019
during the year during the during the
year year
Securities sold under Repos
i. Government Securities - 1,31,364.16 48,101.62 1,12,793.84
(-) (94,252.00) (11,859.64) (94,252.00)
ii. Corporate Debt Securities - 12,382.91 7,742.36 10,264.00
(-) (7,614.78) (1,849.22) (7,613.71)
Securities purchased under Reverse Repos
i. Government Securities - 43,507.94 5,202.46 1,963.89
(-) (83,636.62) (26,858.19) (138.94)
ii. Corporate Debt Securities - 860.43 816.74 859.81
(-) (581.22) (573.73) (574.07)
(Figures in brackets are for Previous Year)
3. Non-SLR Investment Portfolio

a) Issuer composition of Non SLR Investments
The issuer composition of Non-SLR investments of the Bank is given
below:
( ` in crore)
Sr. Issuer Amount Extent of Extent of Extent of Extent of
No. Private “Below “Unrated” “Unlisted”
Placement Investment Securities * Securities *
Grade”
Securities *
i PSUs 48,324.45 18,145.75 356.64 - -
(49,524.49) (25,424.36) (414.14) (-) (-)
ii FIs 67,836.16 55,738.02 - - -
(72,183.66) (66,780.93) (-) (-) (250.00)
iii Banks 19,374.89 1,457.62 1,177.32 23.62 23.62
(16,540.91) (1,927.73) (1,988.79) (23.62) (23.62)
iv Private Corporates 41,791.89 23,398.59 826.18 341.30 24.70
(48,275.25) (36,182.49) (528.49) (481.94) (24.70)
v Subsidiaries /Joint Ventures 9,909.36 - - - -
**
(7,793.06) (-) (-) (-) (-)
vi Others 24,977.19 623.66 2,383.40 53.47 3.17
(24,304.13) (-) (991.02) (60.07) (-)
vii Less: Provision held towards 7,075.11 - 25.21 30.60 -
depreciation
including LICRA
(6,030.63) (-) (-) (-) (-)
Total 2,05,138.83 99,363.64 4,718.33 387.79 51.49
(2,12,590.87) (1,30,315.51) (3,922.44) (565.63) (298.32)
(Figures in brackets are for Previous Year)
* Investments in Equity, Equity Oriented Mutual Funds, Venture Capital, Rated Assets Backed Securities, Central and
State Government Securities and ARCIL are not segregated under these categories as these are exempt from
rating/listing guidelines.
** Investments in Subsidiaries/Joint Ventures have not been segregated into various categories as these are not
covered under relevant RBI Guidelines.
STANDALO 3
b) Non Performing Non-SLR Investments

(` in crore)
Particulars Current Year Previous Year
Opening Balance 4,595.25 447.54
Additions during the year 1,986.35 4,250.77
Reductions during the year 971.94 103.06
Closing balance 5,609.66 4,595.25
Total provisions held 5,209.17 2,452.30
Additions during the previous year include receipt from erstwhile ABs and BMBL on acquisition.
4. Sales and Transfers of Securities To/From HTM Category

The value of sales and transfers of securities to/from HTM Category does not exceed 5% of the book value of
investment held in HTM category at the beginning of the year.
5. Disclosure of Investment in Security Receipts (SRs)
(` in crore)
Particulars SRs Issued SRs issued SRs issued Total
within more than 5 more than 8
Past 5 Years years ago but Years ago
within past 8
Years
i. Book value of SRs Backed by NPAs sold by 9,464.18 344.72 25.93 9,834.83
the bank as underlying
Provision held against (i) 196.90 - 25.93 222.83
ii Book value of SRs Backed by NPAs sold 0.74 6.07 0.34 7.15
by Other banks / financial institutions /
non-banking Financial companies as
Underlying
Provision held against (ii) - 1.45 0.34 1.79
Total (i) + (ii) 9,464.92 350.79 26.27 9,841.98
6. Details of Investments in Security Receipts against NPAs sold to Securitisation Company (SC) / Reconstruction Company (RC)
(` in crore)
Particulars Backed by NPAs sold Backed by the NPAs sold Total
by the bank as by other banks/ financial
underlying institutions / non-banking
financial companies as
underlying
Current Previous Current Previous Current Previous
Year Year Year Year Year Year
Book Value of Investments in 9,841.98 10,489.53 - 16.41 9,841.98 10,505.9
Security Receipts as on 31st 4
March, 2019
Book Value of Investments in 16.58 5,214.56 - - 16.58 5,214.56
Security Receipts made during
the year
34 STANDALON
E
18.3. Derivatives
A. Forward Rate Agreements (FRA) / Interest Rate Swaps (IRS)
(` in crore)
Sr Particulars As at As at
No 31st March, 2019 31st March, 2018
i) The notional principal of swap agreements# 3,74,120.04 3,60,705.72
ii) Losses which would be incurred if counterparties failed to fulfil their 3,342.37 904.42
obligations under the agreements
iii) Collateral required by the Bank upon entering into swaps Nil Nil
iv) Concentration of credit risk arising from the swaps Not significant Not significant
v) The fair value of the swap book 125.32 (-) 555.68
# IRS/FRA amounting to ` 19,022.25 crore (Previous Year ` 2,988.82 crore) entered with the Bank’s own foreign offices
are not shown here as they are for hedging of FCNB corpus and hence not marked to market.
Nature and terms of forward rate agreements and interest rate swaps as on 31st March, 2019 are given below:
(` in crore)
Instrument Nature Nos Notional Benchmark Terms
Principal
IRS Hedging 219 6,229.77 LIBOR Floating Payable Vs Fixed Receivable
IRS Hedging 1 176.35 LIBOR Fixed Payable Vs Floating Receivable
IRS Hedging 115 955.46 OTHERS Floating Payable Vs Fixed Receivable
IRS Hedging 56 33,471.30 LIBOR Fixed Receivable / Floating Payable
IRS Hedging 22 1,075.91 LIBOR Floating Receivable / Fixed Payable
IRS Trading 73 19,168.46 LIBOR Fixed Payable Vs Floating Receivable
IRS Trading 204 40,973.65 LIBOR Floating Payable Vs Fixed Receivable
IRS Trading 2,709 1,29,351.55 LIBOR Floating Payable Vs Floating
Receivable
IRS Trading 2 760.70 LIBOR Fixed Payable Vs Floating Receivable
IRS Trading 2,715 1,29,224.72 LIBOR Floating Payable Vs Fixed Receivable
IRS Trading 68 3,028.50 MIFOR Fixed Payable Vs Floating Receivable
IRS Trading 81 3,622.00 MIFOR Floating Payable Vs Fixed Receivable
IRS Trading 18 3,678.13 LIBOR Fixed Receivable / Floating Payable
IRS Trading 24 2,403.54 LIBOR Floating Receivable / Fixed Payable
Total 3,74,120.04
B. Exchange Traded Interest Rate Derivatives

(` in crore)
Sr. Particulars Current Year Previous Year
No
1 Notional principal amount of exchange traded interest rate derivatives
undertaken during the year
a. Interest Rate Futures Nil Nil
b. 10 Year Government of India Securities 42,099.96 54,611.66
2 Notional principal amount of exchange traded interest rate derivatives
outstanding as on 31st March, 2019
a. Interest Rate Futures Nil Nil
b. 10 Year Government of India Securities Nil Nil
3 Notional principal amount of exchange traded interest rate derivatives N.A. N.A.
outstanding and not “highly effective”
4 Mark-to-market value of exchange traded interest rate derivatives N.A. N.A.
outstanding and not “highly effective”.
STANDALO 3
C. Risk Exposure in Derivatives iii. The Asset Liability Management Committee

(ALCO) of the Bank oversees efficient
(A) Qualitative Risk Exposure
management of these risks. The Bank’s
i. The Bank currently deals in over-the-counter Market Risk Management Department (MRMD)
(OTC) interest rate and currency derivatives as identifies, measures, monitors market risk
also in Interest Rate Futures and Exchange associated with derivative transactions, assists
Traded Currency Derivatives. Interest Rate ALCO in controlling and managing these risks
Derivatives dealt by the Bank are rupee and reports compliance with policy
interest rate swaps, foreign currency interest prescriptions to the Risk Management
rate swaps and forward rate agreements, cap, Committee of the Board (RMCB) at regular
floor and collars. Currency derivatives dealt by intervals.
the Bank are currency swaps, rupee dollar
iv. The accounting policy for derivatives has been
options and cross-currency options. The
drawn- up in accordance with RBI guidelines,
products are offered to the Bank’s customers
the details of which are presented under
to hedge their exposures and the Bank also
Schedule 17: Significant Accounting Policies
enters into derivatives contracts to cover off
(SAP) for the financial year 2018-19.
such exposures. Derivatives are used by the
Bank both for trading as well as hedging v. Interest Rate Swaps are mainly used at Foreign
balance sheet items. The Bank also runs option Offices for hedging of the assets and liabilities.
position in USD/INR, which is managed through
vi. Apart from hedging swaps, swaps at Foreign
various types of loss limits and Greek limits.
Offices consist of back to back swaps done at
ii. Derivative transactions carry market risk i.e. our Foreign Offices which are done mainly for
the probable loss the Bank may incur as a hedging of FCNR deposits at Global Markets,
result of adverse movements in interest Kolkata.
rates/exchange rates and credit risk i.e. the
vii. Majority of the swaps were done with First
probable loss the Bank may incur if the
class counterparty banks.
counterparties fail to meet their obligations.
The Bank’s “Policy for Derivatives” approved viii. Derivative transactions comprise of swaps
by the Board prescribes the market risk which are disclosed as contingent liabilities.
parameters (Greek limits, Loss Limits, cut-loss The swaps are categorised as trading or
triggers, open position limits, duration, hedging.
modified duration, PV01 etc.) as well as
customer eligibility criteria (credit rating, ix. Derivative deals are entered into with only
tenure of relationship, limits and customer those interbank participants for whom
appropriateness and suitability of policy (CAS) counterparty exposure limits are sanctioned.
etc.) for entering into derivative transactions. Similarly, derivative deals entered into with
Credit risk is controlled by entering into only those corporates for whom credit
derivative transactions only with exposure limit is sanctioned. Collateral
counterparties satisfying the criteria prescribed requirements for derivative transactions are
in the Policy. Appropriate limits are set for the laid down as a part of credit sanctions terms on
counterparties taking into account their ability a case by case basis. Such collateral
to honour obligations and the Bank enters into requirements are determined based on usual
ISDA agreement with each counterparty. credit appraisal process. The Bank retains the
right to terminate transactions as a risk
mitigation measure in certain cases.
36 STANDALON
E
(B) Quantitative Risk Exposure
(` in crore)
Particulars Currency Derivatives Interest Rate Derivatives
Current Year Previous Year Current Year Previous Year
(I) Derivatives
(Notional Principal Amount)
(a) For hedging 8,983.92 @ 20,605.24 @ 41,908.78 # 49,193.30 #
(b) For trading* 2,47,198.72 6,16,447.95 3,37,642.76 3,11,512.42
(II) Marked to Market Positions
(a) Asset 3,555.69 5,716.35 3,365.55 592.99
(b) Liability 3,130.82 5,218.09 3,240.23 1,152.54
(III) Credit Exposure 12,665.30 21,749.61 7,037.75 4,160.44
(IV) Likely impact of one percentage change in
interest rate (100* PV01)
(a) on hedging derivatives 1.08 -0.14 150.90 -3.14
(b) on trading derivatives 15.83 0.98 136.08 11.62
(V) Maximum and Minimum of 100* PV 01 observed
during the year
(a) on hedging
-- Maximum 1.08 - 255.40 2.81
Minimum - -0.04 - -
(b) on
trading – 24.41 1.18 149.73 0.76
Maximum -129.75 - 0.08 -
Minimum
@ The swaps amounting to ` 245.10 crore (Previous Year ` 2,870.26 crore) entered with the Bank’s own foreign offices
# IRS/FRA amounting to ` 19,022.25 crore (Previous Year ` 2,988.82 crore) entered with the Bank’s own Foreign offices
* The forward contract deals with our own Foreign Offices are not included. Currency Derivatives ` 427.12 crore
(Previous Year ` Nil) and Interest Rate Derivatives ` Nil (Previous Year ` Nil).
1. The outstanding notional amount of derivatives done between Global Markets Unit and International Banking
Group as on 31st March, 2019 amounted to ` 19,694.47 crore (Previous Year ` 5,859.08 crore) and the derivatives
done between SBI Foreign Offices as on 31st March, 2019 amounted to ` 8,929.28 crore (Previous Year `
12,056.81 crore).
2. The outstanding notional amount of interest rate derivatives which are not marked –to-market (MTM)
where the underlying Assets/Liabilities are not marked to market as on 31st March, 2019 amounted to `
45,661.89 crore (Previous Year
` 45,442.82 crore).
STANDALO 3
18.4. Asset Quality

a) Non-Performing Assets
(` in crore)
I) Net NPAs to Net Advances (%) 3.01% 5.73%
II) Movement of NPAs (Gross)
(a) Opening balance 2,23,427.46 1,12,342.99
(b) Additions (Fresh NPAs) during the year 32,738.05 1,60,303.65
Sub-total (i) 2,56,165.51 2,72,646.64
Less:
(c) Reductions due to up gradations during the year 4,794.34 4,746.09
(d) Reductions due to recoveries (Excluding recoveries made from 19,715.63 4,277.67
upgraded accounts)
(e) Technical/ Prudential Write-offs 5,139.76 4,537.11
(f) Reductions due to Write-offs during the year 53,765.42 35,658.31
Sub-total (ii) 83,415.15 49,219.18
(g) Closing balance (i-ii) 1,72,750.36 2,23,427.46
III) Movement of Net NPAs
(a) Opening balance 1,10,854.70 58,277.38
(b) Additions during the year 27,008.89 61,478.47
(c) Reductions during the year 71,968.85 8,901.15
(d) Closing balance 65,894.74 1,10,854.70
IV) Movement of provisions for NPAs (excluding provisions on standard assets)
(a) Opening balance 1,12,572.76 54,065.61
(b) Provisions made during the year 54,844.57 98,825.17
(c) Write-off / write-back of excess provisions 60,561.71 40,318.02
(d) Closing balance 1,06,855.62 1,12,572.76
Notes:-
i. Opening and closing balances of provision for NPAs include ECGC/CGFMU claims received and held pending
adjustment of
` 8.72 crore (Previous Year ` 1.97 crore) and ` 235.61 crore (Previous Year ` 8.72 crore) respectively.
ii. Additions/Provisions made during the previous year include receipt from erstwhile ABs and BMBL on acquisition.
b) As per RBI circular No. DBR.BP.BC.No.32/21.04.018/2018-19 dated 1 st April, 2019, in case the additional
provisioning for NPAs assessed by RBI exceeds 10% of the reported profit before provisions and
contingencies and/or additional Gross NPAs identified by RBI exceeds 15% of published incremental Gross
NPAs for the reference period then banks are required to disclose divergences from prudential norms on
income recognition, asset classification and provisioning.
Accordingly, no separate disclosure is made in respect of divergence for the financial year 2017-18 as the
same is not beyond the above-mentioned thresholds.
38 STANDALON
E
c) Restructured Accounts
STANDALO
(` in crore)
Sr. Type of Restructuring Under CDR Mechanism (1) Under SME Debt Restructuring Mechanism (2)
No.
Asset Classification Standard Sub Doubtful Loss Total Standard Sub Doubtful Loss Total
Particulars Standard Standard
Restructured Accounts as on April 1, 2018 No. of 8 3 65 8 84 48 169 171 18 406
1 (Opening position) Borrowers (28) (-) (68) (4) (100) (81) (25) (128) (19) (253)
Amount 607.77 380.51 15,840.78 248.84 17,077.90 75.59 377.84 2,559.80 6.82 3,020.05
outstanding (7,711.79 (-) (17,030.6 (82.59) (24,825.0 (5,640.6 (204.06) (2,464.7 (6.88 (8,316.2
) 8) 6) 3) 1) ) 8)
Provision 7.06 28.17 106.20 - 141.43 18.23 26.85 115.41 0.39 160.88
thereon (327.32) (-) (360.74) (0.94) (689.01) (21.94) (10.65) (113.98) (-) (146.57)
Fresh Restructuring during the current FY No. of - - - - - - 28 4 3 35
2 Borrowers (23) (4) (18) (6) (51) (288) (436) (2,066) (288) (3,078)
Amount 68.59 - 95.32 - 163.91 42.73 42.82 27.70 0.27 113.52
outstanding (3,453.35 (220.71) (8,499.62) (186.82 (12,360.5 (83.44) (188.53) (189.35) (5.34 (466.66)
) ) 0) )
Provision 0.09 - - - 0.09 - 3.74 0.45 0.27 4.46
thereon (192.47) (20.86) (15.30) (0.03) (228.66) (27.69) (3.80) (3.94) (0.39 (35.82)
)
3 Up gradation to restructured standard category during No. of - - - - - - - - -
current FY Borrowers (1) (-) (-1) (-) (-) (1) (-) (-1) (-) (-)
Amount - - - - - - - - -
outstanding (443.42) (-) (-443.42) (-) (-) (-) (-) (-) (-) (-)
thereon (6.33) (-) (-6.33) (-) (-) (-) (-) (-) (-) (-)
4 Restructured Standard Advances which No. -1 -2
-1 -2
ceases to of
(-11) (-43)
attract higher provisioning and/ or Borrowers (- (-43)
additional risk -23.05 -4.56
11)
weight at the end of the FY and hence need Amoun - (-5,389.94) (- -4.56
not be t 23.05 5,318.42)
shown as restructured standard advances - -0.23
outstanding (- (-209.29) (-1.80) (-5,318.42)
at the beginning of the next FY
5,389.94)
Provision - -0.23
thereon (- (-1.80)
5 Downgradations of restructured accounts during No. of 209.29)-2 -2 1 3 - -2 2 - -
current FY Borrowers (-13) (-) (11) (2) (-) (-6) (5) (-3) (4) (-)
Amount -332.43 -221.77 -87.04 641.24 - -38.02 38.02 - -
outstanding (- (303.58) (2,747.62) (285.63 (-) (- (125.95) (108.16) (1.76) (-)
3,336.83) ) 235.87)
Provision - -9.52 9.52 - - -0.35 0.35 - -
thereon (-36.14) (7.65) (28.03) (0.47) (-) (-12.02) (12.02) (-) (-) (-)
6 Write-offs of restructured accounts during No. of -1 -1 -22 -2 -26 -16 -32 -33 -4 -85
current FY
Borrowers (-20) (-1) (-31) (-4) (-56) (-273) (-297) (-2,019) (- (-2,882)
293)
Amount -174.83 -158.74 -9,612.97 -233.55 - -29.63 -151.36 - -0.44
10,180.09 2,171.70 2,353.13
outstanding (- (- (- (- (- (-94.19) (- (- (- (-
2,274.02) 143.78) 11,993.72) 306.20) 14,717.72) 140.70) 202.42) 7.16) 444.47)
Provision -6.19 -18.65 -115.72 - -140.56 -7.39 -24.51 -90.98 -0.39 -123.27
thereon (-273.63) (-0.34) (-291.54) (-1.44) (-566.95) (-17.58) (0.38) (-2.51) (-) (-19.71)
1
7 Total Restructured Accounts as on 31st March, No. of 4 - 44 9 57 28 167 142 17 354
2019
(Closing Position) Borrowers (8) (3) (65) (8) (84) (48) (169) (171) (18) (406)
Sr.
1
Type of Restructuring Others (3) TOTAL ( 1 + 2 + 3 )
No.
Asset Classification Standard Sub Doubtful Loss Total Standard Sub Doubtful Loss Total
Particulars Standard Standard
1 Restructured Accounts No. of 360 335 1,094 45 1,834 416 507 1,330 71 2,324
as on April 1, 2018 Borrower (100) (206) (1,990) (49) (2,345) (209) (231) (2,186) (72) (2,698)
(Opening position) s Amount 4,179.74 3,933.96 29,631.18 966.41 38,711.28 4,863.08 4,692.31 48,031.77 1,222.07 58,809.23
outstandin (23,281.14) (2,714.14) (6,774.45) (30.56) (32,800.30) (36,633.56) (2,918.20) (26,269.85) (120.03)
g (65,941.64)
Provision 350.99 80.14 170.62 0.64 602.39 376.27 135.15 392.24 1.03 904.69
2 Fresh Restructuring thereon (242.27) (28.14) (174.82) (-) (445.23) (591.54) (38.79) (649.55) (0.94) (1,280.82)
during the current FY
No. of 7 111 291 66 475 7 139 295 69 510
Borrower (30,726) (6,219) (235) (20) (37,200) (31,037) (6,659) (2,319) (314) (40,329)
s Amount 9,347.86 2.96 94.95 3.95 9,449.72 9,459.18 45.78 217.96 4.23 9,727.15
outstandin (8,757.80) (3,097.75) (9,145.22) (121.52) (21,122.29) (12,294.58) (3,506.99) (17,834.19) (313.68) (33,949.44)
g 43.41 0.47 8.02 2.26 54.16 43.49 4.21 8.47 2.53 58.70
3 Upgradation to Provision (236.33) (25.15) (93.70) (4.23) (359.41) (456.49) (49.80) (112.94) (4.66) (623.89)
restructured standard
category during current thereon 7 -7 - - - 7 -7 - - -
FY No. of (5) (-3) (-2) (-) (-) (7) (-3) (-4) (-) (-)
Borrower 0.29 -0.29 - - - 0.29 -0.29 - - -
s Amount (656.33) (-605.65) (-50.68) (-) (-) (1,099.75) (-605.65) (-494.10) (-) (-)
outstandin - - - - - - - - - -
g
Provision
thereon (3.99) (-1.04) (-2.95) (-) (-) (10.32) (-1.04) (-9.28) (-) (-)
4 Restructured Standard No. of - -22 -25 -
22 Advances which ceases to Borrowers (- (-38) (-92) 25
38) attract higher provisioning Amount - -9,421.29 -9,448.90 (-
9,421.29 and/ or additional risk weight outstanding (-2,716.15) (- 92)
(-2,716.15) at 13,424.50) -
the end of the FY and 9,448.90
hence need not be shown Provision - (-
4.31 as restructured standard thereon (- 13,424.50)
14.83) advances at the beginning of -4.31 -4.54
5 Downgradations of No. of -9 -1 -79 89 - -13 -1 -78 92 --
restructured accounts Borrowers (-50) (-222) (249) (23) (-) (-69) (-217) (257) (29) (-)
during
current FY Amount -39.38 - -42.68 1,338.58 - -409.83 - -129.72 1,979.82 -
1,256.52 1,440.27
outstandin (-21,997.58) (456.27) (20,388.99 (1,152.33 (-) (- (885.80) (23,244.77 (1,439.72 (-)
g ) ) 25,570.29) ) )
Provision -1.17 -15.18 10.96 5.39 - -1.52 -24.35 20.48 5.39 -
thereon (-133.95) (52.17) (81.52) (0.26) (-) (-182.12) (71.84) (109.55) (0.73) (-)
6 Write-offs of re-structured No. of -43 -211 -520 -29 -803 -60 -244 -575 -35 -914
accounts during current Borrowers (-30,383) (-5,865) (-1,378) (-47) (-37,673) (-30,676) (-6,163) (-3,428) (-344) (-40,611)
FY
Amount -157.41 -2,650.27 -21,678.71 -1,505.78 - -361.87 -2,960.38 -33,463.39 -1,739.76 -
25,992.17 38,525.40
outstandin (-3,801.80) (- (-6,626.80) (-338.00) (- (-6,170.02) (- (- (-651.36) (-
g 1,728.55) 12,495.16) 2,013.03) 18,822.94) 27,657.35)
Provision -69.35 -64.58 -174.37 -4.24 -312.54 -82.93 -107.73 -381.07 -4.63 -576.36
thereon (-248.70) (-24.28) (-176.47) (-3.85) (-453.30) (-539.91) (-24.24) (-470.52) (-5.30) (-
1,039.97)
7 Total Restructured No. of 300 227 786 171 1484 332 394 972 197 1895
Accounts as on 31st Borrowers (360) (335) (1,094) (45) (1,834) (416) (507) (1,330) (71) (2,324)
March,
2019 (Closing Position) Amount 3,909.81 29.83 8,004.74 803.16 12,747.54 4,101.96 337.15 14,656.62 1,466.35 20,562.08
outstandin (4,179.74) (3,933.96) (29,631.18) (966.41) (38,711.28 (4,863.08) (4,692.31) (48,031.77) (1,222.07) (58,809.23
g ) )
Provision 319.57 0.85 15.23 4.05 339.70 330.77 7.29 40.11 4.32 382.49
thereon (85.11) (80.14) (170.62) (0.64) (336.51) (110.39) (135.15) (392.24) (1.03) (638.81)
1. Increase in outstanding of ` 8,263.39 crore (Previous Year ` 11,165.38 crore) included in Fresh Additions.
STAN
LO
2. Closure of ` 27,360.50 crore (Previous Year ` 10,935.28 crore) and decrease in Outstanding of ` 1,133.75 crore (Previous Year ` 9,266.34 crore) is included in
Write off.
3. Total Column does not include standard assets moved out of higher provisioning.
4. Fresh Restructuring during the previous year include receipt from erstwhile ABs and BMBL on acquisition.
STANDALONE 143
d) As per RBI circular no.

DBR.No.BP.BC.18/21.04.048/2018- 19 dated 1.01.2019,
the details of restructured MSME accounts is as g) Excess Provision reversed to Profit & Loss Account on
below:- account of Sale of NPAs to Securitisation Company
(` in crore) (SC)
/ Reconstruction Company (RC)
(` in crore)
No. of accounts restructured Amount Particulars Current Year Previous Year
17,419 627.64 Excess Provision reversed 1,075.12 -
e) Details of Technical Write-offs and the recoveries made to P&L Account in case of
Sale of NPAs
thereon:
(` in crore) h) Details of non-performing financial assets purchased
Sr Particulars Current Year Previous Year (` in crore)
No Sr Particulars Current Year Previous Year
i Opening balance of 4,537.11 Nil No
Technical/Prudential 1) (a) No. of Accounts Nil Nil
written-off accounts as purchased during the
at April 1 year
ii Add: 5,139.76 12,926.6 (b) Aggregate outstanding Nil Nil
Technical/Prudential 5
2) (a) Of these, number Nil Nil
write-offs during the
of accounts
year
restructured during
iii Sub-total (A) 9,676.87 12,926.6 the year
5
(b) Aggregate outstanding Nil Nil
iv Less: Recoveries 4,537.11 8,389.54
made/ Actual written i) Details of non-performing financial assets sold
off from previously (` in crore)
technical/ prudential
written-off accounts
during the year (B)
v Closing balance as at 5,139.76 4,537.11
31st March (A-B)
Technical/Prudential write-offs during the previous year Sr Particulars Current Year Previous Year
includes the receipt from erstwhile ABs and BMBL on No
acquisition. 1) No. of Accounts sold 29 16
2) Aggregate outstanding 6,545.21 1,323.69
f) Details of financial assets sold to Securitisation
Company (SC) / Reconstruction Company (RC) for 3) Aggregate 3,155.43 1,057.73
Asset Reconstruction consideration
(` in crore) received
j) Provision on Standard Assets:
Sr Particulars Current Year Previous Year (` in crore)
No Particulars Current Year Previous Year
i No. of Accounts 47 32 Provision towards Standard 12,396.6 12,499.4
ii Aggregate value (net of 2,227.88 964.72 Assets 8 6
provisions) of accounts
sold to SC/RC
iii Aggregate consideration* 4,330.99 1,304.36
iv Additional - -
consideration
realized in respect of
accounts transferred
in earlier years
v Aggregate gain /(loss) 2,103.11 339.64
* SRsover net book
received asvalue
part #of considerations have been
recognised at lower of Net book Value/ Face Value as
per RBI Guidelines. # Includes amount of ` 4.11 crore
(Previous Year ` Nil crore) credited to charges/ (interest)
account.
1 STANDALO
k) Disclosures on Strategic Debt Restructuring Scheme (accounts which are currently under the stand-still period)
(` in crore)
No. of accounts
Amount outstanding Amount outstanding as on Amount outstanding as on
where SDR has
as on 31st March, 2019 31st March, 2019 with respect to 31st March, 2019 with respect to
been invoked
accounts where conversion of debt accounts where conversion of debt
to equity is pending to equity has taken place
Classified as Standard NPA Standard NPA Standard NPA
Nil Nil Nil Nil Nil Nil Nil
l) Disclosures on Flexible Structuring of Existing Loans

(` in crore)
Period No of Borrowers Amount of Loans taken up Exposure weighted average duration of loans
taken up for Flexible for flexible structuring taken up for flexible structuring
Structuring Classified as Classified as Before applying After applying
Standard NPA flexible flexible structuring
structuring (Yrs)
(Yrs)
Previous Year 2 1,254.32 - 3.55 yrs 9.67 yrs
Current Year Nil Nil Nil Nil Nil
m) Disclosures on Change in Ownership outside SDR Scheme (accounts which are currently under the stand-still period)
(` in crore )
No. of
Outstanding as Amount outstanding as Amount outstanding as Amount outstanding as
accounts
on the reporting on the reporting date on the reporting date with on the reporting date with
where banks
date with respect to accounts respect to accounts where respect to accounts where
have decided
where conversion of debt conversion of debt to change in ownership is
to effect
to equity/invocation of equity/invocation of pledge envisaged by
change in
pledge of equity shares of equity shares has taken issuance of fresh shares or
ownership
is pending place sale of promoters equity
Classified as Standard NPA Standard NPA Standard NPA Standard NPA
Nil Nil Nil Nil Nil Nil Nil Nil Nil
n) Disclosures on Change in Ownership of Projects Under Implementation (accounts which are currently under the stand-
still period)
(` in crore )
No. of project loan accounts where banks have Amount outstanding as on 31st March, 2019
decided to effect change in ownership Classified as Classified as Classified as NPA
standard Standard Restructured
Nil Nil Nil Nil
st
o) Disclosures on the Scheme for Sustainable Structuring of Stressed Assets (S4A), as on 31 March, 2019.
(` in crore )
Accounts where S4A Aggregate amount Amount outstanding Provision held
has been applied outstanding
Asset Number In Part A In Part B
Classificatio of
n Account
s
Standard Accounts 4 2,603.21 1,205.35 1,397.86 608.12
NPAs Nil Nil Nil Nil Nil
18.5. Business Ratios

i. Interest Income as a percentage to Working Funds 6.55% 6.37%
ii. Non-interest income as a percentage to Working Funds 0.99% 1.29%
iii Operating Profit as a percentage to Working Funds 1.49% 1.72%
iv. Return on Assets* 0.02% (-) 0.19%
v. Business (Deposits plus advances) per employee (` in crore) 18.77 16.70
vi. Profit per employee (` in thousands) 33.39 (-) 243.33
* (on net-assets basis)
18.6. Asset Liability Management: Maturity pattern of certain items of assets and liabilities as at 31st March, 2019
(` in crore)
Day1 2-7 Days 8-14 Days 15 to 30 Over 31
Over 2 Over 3 Over 6 Over 1 Year Over 3 Years Over 5 Years Total
days
days and upto 2 months months months & & upto 3 & upto 5
months and upto 3 & upto upto 1 Year years years
months 6
months
Deposits 20,801.66 67,397.57 38,395.92 1,09,112.89 2,80,613.6 5,56,965.5 5,31,671.8 3,03,630.5 8,28,380.9 29,11,386.
1,04,290.94 9 7 1 1 0 01
70,124.55
(18,801.34) (36,410.72) (1,02,902.64) (2,68,120.1 (5,02,239.1 (5,05,095.2 (2,82,468.5 (7,72,447.2 (27,06,343.2
0) 6) 0) 9) 0) 9)
(62,884.68) (59,039.39) (95,934.27)
Advances 23,338.39 13,259.37 10,239.57 31,390.31 33,817.93 69,805.47 1,00,265.2 10,91,890.5 2,90,220.6 4,82,834.0 21,85,876.
5 6 5 3 92
38,815.39
(9,505.35) (22,201.83) (23,146.72) (47,241.42) (61,224.31) (1,17,078.2 (2,73,529.6 (2,87,544.3 (2,47,962.4 (7,49,308.1 (19,34,880.1
5) 8) 9) 0) 8) 9)
(96,137.66)
Investment 22.36 6,432.46 2,525.26 13,582.82 8,105.72 22,921.96 25,099.70 42,890.15 1,66,758.5 1,81,538.3 4,97,144.6 9,67,021.9
s 1 7 4 5
(79.71) (1,753.94) (7,824.29) (41,927.02) (29,445.22) (33,385.93 (55,415.07) (164,722.9 (174,516.3 (5,44,872.2 (10,60,986.7
) 2) 1) 7) 1)
(7,044.03)
Borrowings 16,679.67 89,536.61 3,684.07 20,965.35 57,773.72 20,810.07 27,681.37 34,911.01 47,258.20 28,896.05 54,821.00 4,03,017.1
2
(217.95) (84,918.90) (38,244.45) (23,856.81) (23,304.46) (25,422.91 (30,492.51) (44,182.98) (23,658.96 (47,975.44 (3,62,142.0
) ) ) 7)
(19,866.70)
Foreign 43,190.02 3,268.05 3,451.22 10,523.17 18,236.76 16,732.11 35,576.40 41,045.46 95,815.96 83,623.23 39,988.32 3,91,450.7
0
Currency (2,410.92) (2,875.52) (3,525.69) (13,481.32) (17,334.18) (31,977.62 (40,927.39) (145,715.9 (74,935.97 (37,041.66 (3,92,728.1
Assets # ) 6) ) ) 1)
(22,501.88)
Foreign 24,255.18 17,027.04 4,671.82 29,440.95 23,767.03 29,231.40 40,986.24 65,749.56 59,114.18 47,839.17 15,742.68 3,57,825.2
5
1 STANDALO
Currency (877.05) (22,146.51) (10,534.83) (31,245.24) (31,360.75) (39,865.36 (63,595.71) (73,874.40) (39,418.43 (28,029.95 (3,64,436.6
Liabilities $ ) ) ) 2)
STANDALO
(23,488.39)
# Foreign Currency Assets and Liabilities represent advances and investments (net of provision thereof).
$ Foreign Currency Liabilities represent borrowings and
deposits. (Figures in brackets are as at 31st March, 2018).
1
1 STANDALO
18.7. Exposures
The Bank is lending to sectors, which are sensitive to asset price
fluctuations.
a) Real Estate Sector
(` in crore )
I Direct exposure
i) Residential Mortgages 3,28,969.21 3,03,188.55
Lending fully secured by mortgages on residential property that is or will 3,28,969.21 3,03,188.55
be occupied by the borrower or that is rented.
Of which (i) Individual housing loans up to ` 35 lacs (previous year ` 28 lac) 1,54,846.41 1,26,359.38
in Metropolitan centres (Population >= 10 lacs) and ` 25 lacs (previous year
` 20 lacs) in other centres for purchase/construction of dwelling unit per
family.
ii) Commercial Real Estate
Lending secured by mortgages on Commercial Real Estates (office building, 38,764.19 82,807.89
retail space, multi purpose commercial premises, multifamily residential
buildings, multi tenanted commercial premises, industrial or warehouse
space, hotels, land acquisition, development and construction etc.
Exposures would also include non fund based (NFB) limits.
iii) Investments in Mortgage Backed Securities (MBS) and other securitised - 266.05
exposures:
a) Residential - 266.05
b) Commercial Real Estate - -
II Indirect Exposure
Fund based and non-fund based exposures on National Housing Bank (NHB) and 96,683.37 87,233.16
Housing Finance Companies (HFCs)
Total Exposure to Real Estate Sector 4,64,416.77 4,73,495.65
b) Capital Market
(` in crore )
1) Direct investment in equity shares, convertible bonds, convertible debentures 8,438.87 8,471.07
and units of equity oriented mutual funds the corpus of which is not exclusively
invested in corporate debt.
2) Advances against shares / bonds / debentures or other securities or on clean 24.41 31.47
basis to individuals for investment in shares (including IPOs/ESOPs), convertible
bonds, convertible debentures, and units of equity-oriented mutual funds.
3) Advances for any other purposes where shares or convertible bonds or 26.07 1,084.72
convertible debentures or units of equity oriented mutual funds are taken as
primary security.
4) Advances for any other purposes to the extent secured by the collateral 8,114.07 12,187.75
security of shares or convertible bonds or convertible debentures or units of
equity oriented mutual funds i.e. where the primary security other than
shares/convertible bonds/convertible debentures/ units of equity oriented
mutual funds does not fully cover the advances.
5) Secured and unsecured advances to stockbrokers and guarantees issued on 135.91 200.15
behalf of stockbrokers and market makers
6) Loans sanctioned to corporates against the security of shares/bonds/debentures 1.68 3.36
or other securities or on clean basis for meeting promoter's contribution to the
equity of new companies in anticipation of raising resources.
7) Bridge loans to companies against expected equity flows/issues. Nil Nil
8) Underwriting commitments taken up by the Banks in respect of primary issue of Nil Nil
shares or convertible bonds or convertible debentures or units of equity oriented
mutual funds.
9) Financing to stockbrokers for margin trading. 0.13 215.00
10) Exposures to Venture Capital Funds (both registered and unregistered) 2,185.02 1,948.56
Total Exposure to Capital Market 18,926.16 24,142.08
STANDALO 1
c) Risk Category wise Country Exposure

As per the extant RBI guidelines, the country exposure of the Bank is categorised into various risk
categories listed in the following table. The country exposure (net funded) of the Bank for any country does
not exceed 1% of its total assets except on USA, hence provision for the country exposure on USA has been
made.
(` in crore )
Risk Category Net Funded Exposure Provision held
As at 31st March, As at 31st March, As at 31st March, As at 31st March,
2019 2018 2019 2018
Insignificant 90,015.33 96,534.70 121.06 111.18
Very Low 53,189.73 53,321.64 Nil Nil
Low 11,366.00 11,110.42 Nil Nil
Medium 17,523.32 13,480.60 Nil Nil
High 7,126.62 4,246.28 Nil Nil
Very High 8,314.33 8,082.38 Nil Nil
Restricted 1,299.06 3,964.32 Nil Nil
Total 1,88,834.39 1,90,740.34 121.06 111.18
d) Single Borrower and Group Borrower exposure

18.8. Miscellaneous
limits exceeded by the Bank
a. Disclosure of Penalties
The Bank had taken single borrower exposure
& Group Borrower exposure within the - Reserve Bank of India has imposed a penalty of
prudential limit prescribed by RBI. ` 1.00 crore on the Bank for not monitoring the
end use of funds in respect of one of its
e) Unsecured Advances
borrowers.
(` in crore )
- Reserve Bank of India has imposed a penalty
Sr Particulars As at As at of
No 31st March, 2019 31st March, 2018 ` 1.00 crore on the Bank for non-compliance
a) Total Unsecured 5,22,939.34 3,60,240.30 with the directions issued by RBI on the SWIFT
Advances of the related operational controls.
bank
- The Central Bank of Bahrain (CBB) has
i) Of which Nil Nil imposed a penalty of ` 0.92 crore (BHD
amount of 50,000) on Bahrain Branches for non-
advances out- compliance of USD Parity stipulations in 5
standing deals. The Bank has filed an appeal before
against charge Central Bank of Bahrain and the final decision
over from CBB is still awaited.
intangible
securities such b. Penalty for Bouncing of SGL forms
as rights,
licences, No penalty has been levied on the Bank for
authority etc. bouncing of SGL Forms.
ii) The estimated Nil Nil
1 STANDALO
18.9. Disclosure Requirements as per the Accounting Standards

a) Accounting Standard – 15 “Employee Benefits”
i. Defined Benefit Plans
1. Employee’s Pension Plan and Gratuity Plan
The following table sets out the status of the Defined Benefit Pension Plan and Gratuity Plan as per the
actuarial valuation by the independent Actuary appointed by the Bank:-
(` in crore)
Particulars Pension Plans Gratuity Plan
Change in the present value of the defined benefit
obligation
Opening defined benefit obligation at 1st April, 2018 87,786.56 67,824.90 12,872.60 7,291.02
Current Service Cost 1,060.57 978.19 410.51 286.07
Interest Cost 6,812.24 6,248.32 1,001.49 713.71
Past Service Cost (Vested Benefit) - - - 3,610.00
Liability transferred In/Acquisitions - 16,045.22 - 2,526.13
Actuarial losses (gains) 6,434.95 3,338.70 (107.62) (18.74)
Benefits paid (3,966.53) (4,190.42) (1,987.93) (1,535.59)
Direct Payment by Bank (2,765.64) (2,458.35) - -
Closing defined benefit obligation at 31st March, 95,362.15 87,786.56 12,189.05 12,872.60
2019
Change in Plan Assets
Opening fair value of Plan Assets as at 1st April, 2018 85,249.60 64,560.42 9,140.76 7,281.18
Expected Return on Plan Assets 6,615.37 5,908.09 711.15 709.95
Contributions by employer 2,391.18 4,363.79 2,359.86 226.90
Assets transferred In/Acquisitions - 14,742.79 - 2,484.28
Expected Contributions by the employees 0.34 - - -
Benefits Paid (3,966.53) (4,190.42) (1,987.93) (1,535.59)
Actuarial Gains / (Loss) on plan Assets 109.65 (135.07) 102.16 (25.96)
st
Closing fair value of plan assets as at 31 March, 90,399.61 85,249.60 10,326.00 9,140.76
2019
Reconciliation of present value of the obligation and
fair value of the plan assets
Present Value of Funded obligation at 31st March, 95,362.15 87,786.56 12,189.05 12,872.60
2019
Fair Value of Plan assets at 31st March, 2019 90,399.61 85,249.60 10,326.00 9,140.76
Deficit/(Surplus) 4,962.54 2,536.96 1,863.05 3,731.84
Unrecognised Past Service Cost (Vested) Closing - - - (2,707.50)
Balance
Unrecognised Transitional Liability Closing Balance - - - -
Net Liability/(Asset) 4,962.54 2,536.96 1,863.05 1,024.34
Amount Recognised in the Balance Sheet
Liabilities 95,362.15 87,786.56 12,189.05 12,872.60
Assets 90,399.61 85,249.60 10,326.00 9,140.76
Net Liability / (Asset) recognised in Balance Sheet 4,962.54 2,536.96 1,863.05 3,731.84
Unrecognised Past Service Cost (Vested) Closing - - - (2,707.50)
Balance
Net Liability/(Asset) 4,962.54 2,536.96 1,863.05 1,024.34
Net Cost recognised in the profit and loss account
Interest Cost 6,812.24 6,248.32 1,001.49 713.71
STANDALO 1
Particulars Pension Plans Gratuity Plan

Expected return on plan assets (6,615.37) (5,908.09) (711.15) (709.95)
Expected Contributions by the employees (0.34) - - -
Past Service Cost (Amortised) Recognised - - - -
Past Service Cost (Vested Benefit) Recognised - - 2,707.50 902.50
Net actuarial losses (Gain) recognised during the 6,325.30 3,473.77 (209.78) 7.22
year
Total costs of defined benefit plans included in 7,582.40 4,792.19 3,198.57 1,199.55
Schedule 16 "Payments to and provisions for
employees"
Reconciliation of expected return and actual return on
Plan Assets
Actuarial Gain/ (loss) on Plan Assets 109.65 (135.07) 102.16 (25.96)
Actual Return on Plan Assets 6,725.02 5,773.02 813.31 683.99
Reconciliation of opening and closing net
liability/ (asset) recognised in Balance Sheet
Opening Net Liability/ (Asset) as at 1st April, 2018 2,536.96 3,264.48 1,024.34 9.84
Expenses as recognised in profit and loss account 7,582.40 4,792.19 3,198.57 1,199.55
Paid by Bank Directly (2,765.64) (2,458.35) - -
Debited to Other Provision - - - -
Recognised in Reserve - - - -
Net Liability/ (Asset) transferred in - 1,302.43 - 41.85
Employer’s Contribution (2,391.18) (4,363.79) (2,359.86) (226.90)
Net liability/(Asset) recognised in Balance Sheet 4,962.54 2,536.96 1,863.05 1,024.34
Investments under Plan Assets of Pension Fund & Gratuity Fund as on 31st March, 2019 are as follows:
Pension Fund Gratuity Fund

Category of Assets % of Plan Assets % of Plan
Assets
Central Govt. Securities 23.69% 18.79%
State Govt. Securities 31.40% 33.96%
Debt Securities, Money Market Securities and Bank Deposits 31.93% 23.29%
Mutual Funds 2.39% 4.09%
Insurer Managed Funds 2.63% 15.36%
Others 7.96% 4.51%
Total 100.00% 100.00%
Principal actuarial assumptions
Particulars Pension Plans

Current Year Previous Year
Discount Rate 7.79% 7.76%
Expected Rate of return on Plan Asset 7.79% 7.76%
Salary Escalation Rate 5.20% 5.00%
Pension Escalation Rate 0.40% -
Attrition Rate 2.00% 2.00%
Mortality Table IALM (2006- IALM (2006-
08) 08)
ULTIMATE ULTIMATE
1 STANDALO
Particulars Gratuity Plans

08) 08)
ULTIMATE ULTIMATE
Surplus/Deficit in the plan

Gratuity Plan
(` in crore)
Amount recognized in the Balance Sheet Year ended Year ended Year ended Year ended Year ended
31-03-2015 31-03-2016 31-03-2017 31-03-2018 31-03-2019
Liability at the end of the year 7,182.35 7,332.14 7,291.02 12,872.60 12,189.05
Fair value of Plan Assets at the end of the 7,110.25 6,879.77 7,281.18 9,140.76 10,326.00
year
Difference 72.10 452.37 9.84 3,731.84 1,863.05
Unrecognised Past Service Cost - - - 2,707.50 -
Unrecognised Transition Liability - - - - -
Amount Recognized in the Balance Sheet 72.10 452.37 9.84 1,024.34 1,863.05
Experience adjustment
(` in crore)
31-03-2015 31-03-2016 31-03-2017 31-03-2018 31-03-2019
On Plan Liability (Gain) /Loss (24.69) 326.09 10.62 399.62 (212.11)
On Plan Asset (Loss) /Gain 106.04 (43.09) 182.34 (25.96) 102.16
Surplus/Deficit in the plan

Pension
(` in crore)
31-03-2015 31-03-2016 31-03-2017 31-03-2018 31-03-2019
Liability at the end of the year 51,616.04 59,151.41 67,824.90 87,786.56 95,362.15
Fair value of Plan Assets at the end of the 49,387.97 53,410.37 64,560.42 85,249.60 90,399.61
year
Difference 2,228.07 5,741.04 3,264.48 2,536.96 4,962.54
Unrecognised Past Service Cost - - - - -
Unrecognised Transition Liability - - - - -
Amount Recognized in the Balance Sheet 2,228.07 5,741.04 3,264.48 2,536.96 4,962.54
Experience adjustment
(` in crore)
On Plan Liability (Gain) /Loss 1,732.86 5,502.3 3,007.5 4,439.54 3,642.57
5 9
On Plan Asset (Loss) /Gain 2,285.87 (162.93) 2,246.6 (135.07) 109.65
0
As the plan assets are marked to market on the basis of the yield curve derived from government securities, the
expected rate of return has been kept the same as the discount rate.
STANDALO 1
The estimates of future salary growth, factored in actuarial valuation, take account of inflation, seniority,
promotion and other relevant factors such as supply and demand in the employment market. Such estimates are
very long term and are not based on limited past experience / immediate future. Empirical evidence also
suggests that in very long term, consistent high salary growth rates are not possible. The said estimates and
assumptions have been relied upon by the auditors.
With a view to further strengthen the Pension Fund, it was decided to upwardly revise some of the assumptions.
2. Employees’ Provident Fund

Actuarial valuation carried out in respect of interest shortfall in the Provident Fund Trust of the Bank, as per
Deterministic Approach shows “Nil” liability, hence no provision is made in F.Y. 2018-19.
The following table sets out the status of Provident Fund as per the actuarial valuation by the independent
Actuary appointed by the Bank:-
(` in crore)
Provident Fund
Change in the present value of the defined benefit obligation
Opening defined benefit obligation at 1st April, 2018 29,934.63 25,921.96
Current Service Cost 943.07 942.85
Interest Cost 2,475.08 2,428.48
Employee Contribution (including VPF) 1,330.76 1,357.28
Liability Transferred In - 3,309.05
Actuarial losses/(gains) - 25.56
Benefits paid (4,195.61) (4,050.55)
Closing defined benefit obligation at 31st March, 2019 30,487.93 29,934.63
Opening fair value of Plan Assets as at 1st April, 2018 31,502.49 26,915.23
Expected Return on Plan Assets 2,475.08 2,428.48
Contributions 2,273.83 2,300.13
Transferred from other Companies - 3,723.65
Benefits Paid (4,195.61) (4,050.55)
Actuarial Gains / (Loss) on plan Assets 124.14 185.55
st
Closing fair value of plan assets as at 31 March, 2019 32,179.93 31,502.49
Reconciliation of present value of the obligation and fair value of the plan assets
Present Value of Funded obligation at 31st March, 2019 30,487.93 29,934.63
st
Fair Value of Plan assets at 31 March, 2019 32,179.93 31,502.49
Deficit/(Surplus) (1,692.00) (1,567.86)
Net Asset not recognised in Balance Sheet 1,692.00 1,567.86
Interest Cost 2,475.08 2,428.48
Expected return on plan assets (2,475.08) (2,428.48)
Interest shortfall reversed - -
Total costs of defined benefit plans included in Schedule 16 "Payments to and 943.07 942.85
provisions for employees"
Reconciliation of opening and closing net liability/ (asset) recognised in Balance Sheet
Opening Net Liability as at 1st April, 2018 - -
Expense as above 943.07 942.85
Employer's Contribution (943.07) (942.85)
Net Liability/(Asset) Recognized In the Balance Sheet - -
1 STANDALO
Investments under Plan Assets of Provident Fund as on 31st March, 2019 are as follows:
Category of Assets Provident Fund
% of Plan Assets
Central Govt. Securities 35.51%
State Govt. Securities 24.74%
Debt Securities, Money Market Securities and Bank Deposits 31.67%
Mutual Funds 1.46%
Others 6.62%
Total 100.00%

Provident Fund
Guaranteed Return 8.55% 8.65%
Salary Escalation 5.20% 5.00%
08) 08)
ULTIMATE ULTIMATE
There is a guaranteed return applicable to liability under SBI Employees Provident Fund which shall not be lower of either:
(a) one half percent above the average standard rate (adjusted up or down to the interest one quarter per cent)
quoted by the bank for new deposits fixed for twelve months in the preceding year (ending on the preceding the
31st day of March); or
(b) three percent per annum, subject to approval of Executive Committee.
ii. Defined Contribution Plan:
The Bank has a Defined Contribution Pension Scheme (DCPS) applicable to all categories of officers and
employees joining the Bank on or after August 1, 2010. The Scheme is managed by NPS Trust under the
aegis of the Pension Fund Regulatory and Development Authority. National Securities Depository Limited
has been appointed as the Central Record Keeping Agency for the NPS. During F.Y. 2018-19, the Bank has
contributed ` 451.39 crore (Previous Year ` 390.00 crore).
iii. Long Term Employee Benefits (Unfunded Obligation):
(A) Accumulating Compensated Absences (Privilege Leave)
The following table sets out the status of Accumulating Compensated Absences (Privilege Leave) as per the
actuarial valuation by the independent Actuary appointed by the Bank:-
(` in crore)
Accumulating Compensated
Absences (Privilege Leave)
Opening defined benefit obligation at 1st April, 2018 6,242.18 4,754.10
Interest Cost 485.64 432.03
Liability transferred In/ Acquisitions - 1,188.49
Actuarial losses/(gains) 741.53 593.08
Benefits paid (858.28) (933.78)
Closing defined benefit obligation at 31st March, 2019 6,870.40 6,242.18
STANDALO 1
Accumulating Compensated
Absences (Privilege Leave)
Actuarial (Gain)/ Losses 741.53 593.08
Total costs of defined benefit plans included in Schedule 16 "Payments to and 1,486.50 1,233.37
provisions for employees"
Reconciliation of opening and closing net liability/(asset) recognised in Balance Sheet
Opening Net Liability as at 1st April, 2018 6,242.18 4,754.10
Expense as above 1,486.50 1,233.37
Net Liability/ (Asset) transferred in - 1,188.49
Employer's Contribution - -
Benefit paid directly by the Employer (858.28) (933.78)
Net Liability/(Asset) Recognized In the Balance Sheet 6,870.40 6,242.18

08) 08)
ULTIMATE ULTIMATE
(B) Other Long Term Employee Benefits

Amount of ` 21.53 crore (Previous Year ` (63.95) crore) is provided / (written back) towards Other Long
Term Employee Benefits as per the actuarial valuation by the independent Actuary appointed by the Bank
and is included under the head “Payments to and Provisions for Employees” in Profit and Loss Account.
Details of Provisions made for various Other Long Term Employee Benefits during the year:
(` in crore)
Sr Long Term Employee Benefits Current Year Previous Year
No
1 Leave Travel and Home Travel Concession (Encashment/Availment) 35.00 (10.88)
2 Sick Leave - -
3 Silver Jubilee Award (1.47) (27.87)
4 Resettlement Expenses on Superannuation (4.15) (13.23)
5 Casual Leave - -
6 Retirement Award (7.85) (11.97)
Total 21.53 (63.95)
1 STANDALO

08) 08)
ULTIMATE ULTIMATE
b) Accounting Standard – 17 “Segment Reporting”

iv. Other Banking business –
1. Segment Identification
Segments not classified under (i) to (iii)
I. Primary (Business Segment) above are classified under this primary
segment.
The following are the primary segments of the
Bank:- II. Secondary (Geographical Segment)
- Treasury i) Domestic Operations - Branches/Offices
- Corporate / Wholesale Banking having operations in India
- Retail Banking ii) Foreign Operations - Branches/Offices
- Other Banking Business having operations outside India and
offshore Banking units having operations
The present accounting and information in India
system of the Bank does not support
capturing and extraction of the data in III. Pricing of Inter-segmental Transfers
respect of the above segments separately.
The Retail Banking segment is the primary
However, based on the present internal,
resource mobilising unit. The Corporate/
organisational and management reporting
Wholesale Banking and Treasury
structure and the nature of their risk and
segments are recipient of funds from
returns, the data on the primary segments
Retail Banking. Market related Funds
have been computed as under:
Transfer Pricing (MRFTP) is followed under
i. Treasury – which a separate unit called Funding
Centre has been created. The Funding
The Treasury Segment includes the entire Centre notionally buys funds that the
investment portfolio and trading in foreign business units raise in the form of deposits
exchange contracts and derivative or borrowings and notionally sell funds to
contracts. The revenue of the treasury business units engaged in creating assets.
segment primarily consists of fees and
gains or losses from trading operations IV. Allocation of Expenses, Assets and Liabilities
and interest income on the investment
Expenses incurred at Corporate Centre
portfolio.
establishments directly attributable either
ii. Corporate / Wholesale Banking – to Corporate / Wholesale and Retail
Banking Operations or to Treasury
The Corporate / Wholesale Banking Operations segment, are allocated
segment comprises the lending activities accordingly. Expenses not directly
of Corporate Accounts Group, Commercial attributable are allocated on the basis of
Clients Group and Stressed Assets the ratio of number of employees in each
Resolution Group. These include providing segment/ratio of directly attributable
loans and transaction services to expenses.
corporate and institutional clients and
further include non-treasury operations of The Bank has certain common assets and
foreign offices. liabilities, which cannot be attributed
to any segment, and the same are treated
iii. Retail Banking – as unallocated.
The Retail Banking Segment comprises of
retail branches, which primarily includes
Personal Banking activities including
lending activities to corporate customers
having banking relations with these
branches. This segment also includes
agency business and ATMs.
STANDALO 1
2. Segment Information
Part A: Primary (Business Segments)
(` in crore)
Business Segment Treasury Corporate / Retail Other Total
Wholesale Banking Banking
Banking Operations
Revenue (before exceptional items) # 77,651.11 78,599.78 1,20,968.24 - 2,77,219.1
3
(82,020.76) (63,280.84) (1,11,809.55) (-) (2,57,111.1
5)
Unallocated Revenue # 863.86
(2,552.68)
Total Revenue # 2,78,082.9
9
(2,59,663.8
3)
Result (before exceptional items) # 6,831.17 (-) 16,262.12 12,730.51 - 3,299.56
(48.05) (- 38,498.98) (19,412.16) (-) (-
19,038.77)
Add: Exceptional Items # 473.12 473.12
(5,436.17) (5,436.17)
Result (after exceptional items) # 7304.29 (-) 16,262.12 12,730.51 - 3,772.68
(5,484.22) (- 38,498.98) (19,412.16) (-) (-
13,602.60)
Unallocated Income(+) / Expenses( -) - net (-)
# 2,165.20@
(-
1,925.64)
Profit before tax # 1,607.48
(-
15,528.24)
Tax # 745.25
(-
8,980.79)
Extraordinary Profit # Nil
Nil
Net Profit # 862.23
(-
6,547.45)
Other Information:
Segment Assets * 10,02,841.57 11,33,271.13 14,91,676.59 - 36,27,789.2
9
(10,89,553.5 (10,11,026.9 (13,22,851.3 (-) (34,23,431.8
1) 8) 3) 2)
Unallocated Assets * 53,124.96
(31,320.1
8)
Total Assets* 36,80,914.2
5
(34,54,752.0
0)
Segment Liabilities * 8,37,911.69 11,64,572.02 13,89,432.28 - 33,91,915.9
9
(8,19,731.87) (10,48,664.6 (13,11,134.5 (-) (31,79,531.0
2) 7) 6)
Unallocated Liabilities* 68,084.44
(56,092.3
8)
Total Liabilities * 34,60,000.4
3
(32,35,623.4
1 STANDALO
4)
(Figures in brackets are for previous year).
@ Includes exceptional item of ` 1,087.43
crores.
STANDALO 1
Part B: Secondary (Geographic Segments)
(` in crore)
Domestic Foreign Total
Current Previous Current Previous Current Previous
Year Year Year Year Year Year
Revenue (before exceptional items) 2,63,866.57 2,48,361.3 14,216.42 11,302.47 2,78,082.99 2,59,663.83
# 6
Net Profit# - 3,075.19 - 3,937.42 1,344.38 862.23 - 6,547.45
7,891.83
Assets * 32,85,791.0 30,69,761.2 3,95,123.25 3,84,990.79 36,80,914.2 34,54,752.0
0 1 5 0
Liabilities* 30,64,877.1 28,50,632.6 3,95,123.25 3,84,990.79 34,60,000.4 32,35,623.4
8 5 3 4
# For the year ended 31st March, 2019.
* As at 31st March, 2019.
c) Accounting Standard – 18 “Related Party 16. SBI Funds Management Pvt. Ltd.
Disclosures”
17. SBI Foundation.
1. Related Parties
A. SUBSIDIARIES
i. FOREIGN BANKING SUBSIDIARIES
1. Commercial Indo Bank LLC, Moscow
2. Bank SBI Botswana Limited
3. SBI Canada Bank
4. State Bank of India (California)
5. State Bank of India (UK) Limited
6. SBI (Mauritius) Ltd.
7. PT Bank SBI Indonesia
8. Nepal SBI Bank Ltd.
ii. DOMESTIC NON-BANKING SUBSIDIARIES

1. SBI Capital Markets Ltd.
2. SBICAP Securities Ltd.
3. SBICAP Trustee Company Ltd.
4. SBICAP Ventures Ltd.
5. SBI DFHI Ltd.
6. SBI Global Factors Ltd.
7. SBI Infra Management Solutions Pvt. Ltd.
8. SBI Mutual Fund Trustee Company Pvt.
Ltd.
9. SBI Payment Services Pvt. Ltd.
10. SBI Pension Funds Pvt. Ltd.
11. SBI Life Insurance Company Ltd.
12. SBI General Insurance Company Ltd.
13. SBI Cards and Payment Services Pvt. Ltd.
14. SBI Business Process Management
Services Pvt. Ltd.
15. SBI – SG Global Securities Services Pvt.
Ltd.
1 STANDALO
iii. FOREIGN NON-BANKING SUBSIDIARIES

1. SBICAP (Singapore) Ltd.
2. SBICAP (UK) Ltd.
3. SBI Funds Management (International) Pvt. Ltd.
4. State Bank of India Servicos Limitada
5. Nepal SBI Merchant Banking Ltd.
B. JOINTLY CONTROLLED ENTITIES

1. C-Edge Technologies Ltd.
2. SBI Macquarie Infrastructure
Management Pvt. Ltd.
3. SBI Macquarie Infrastructure Trustee Pvt. Ltd.
4. Macquarie SBI Infrastructure
Management Pte. Ltd.
5. Macquarie SBI Infrastructure Trustee Ltd.
6. Oman India Joint Investment Fund –
Management Company Pvt. Ltd.
Trustee Company Pvt. Ltd.
8. Jio Payments Bank Ltd.
C. ASSOCIATES
i. Regional Rural Banks
1. Andhra Pradesh Grameena Vikas Bank
2. Arunachal Pradesh Rural Bank
3. Chhattisgarh Rajya Gramin Bank
4. Ellaquai Dehati Bank
5. Langpi Dehangi Rural Bank
6. Madhyanchal Gramin Bank
7. Meghalaya Rural Bank
8. Mizoram Rural Bank
9. Nagaland Rural Bank
10. Purvanchal Bank
11. Saurashtra Gramin Bank
STANDALO 1
12. Utkal Grameen Bank

13. Uttarakhand Gramin Bank Particulars Associates/ Key Total
14. Vananchal Gramin Bank Joint Management
Ventures Personnel
15. Rajasthan Marudhara Gramin Bank & their
16. Telangana Grameena Bank relatives
Other Liabilities Nil Nil Nil
17. Kaveri Grameena Bank
(Nil) (Nil) (Nil)
18. Malwa Gramin Bank (upto
Balance with Nil Nil Nil
31.12.2018).
Banks
(Nil) (Nil) (Nil)
ii. Others
Advance Nil Nil Nil
1. SBI Home Finance Ltd.(under
liquidation) (Nil) (Nil) (Nil)
Investment 97.66 Nil 97.66
2. The Clearing Corporation of India Ltd.
(67.66) (Nil) (67.66)
3. Bank of Bhutan Ltd. Non-fund
commitments Nil Nil Nil
(Nil) (Nil) (Nil)
(LCs/ BGs)
D. Key Management Personnel of the Bank
1. Shri Rajnish Kumar, Chairman Maximum outstanding during the year
2. Shri P. K. Gupta, Managing Director Borrowings Nil Nil Nil
(Retail & Digital Banking)
(Nil) (Nil) (Nil)
3. Shri Dinesh Kumar Khara, Managing Deposit 206.16 Nil 206.16
Director (Global Banking & Subsidiaries)
(205.68) (Nil) (205.68)
4. Shri B. Sriram, Managing Director Other Liabilities Nil Nil Nil
(Corporate & Global Banking) upto
(Nil) (Nil) (Nil)
29.06.2018
Balance with Nil Nil Nil
5. Shri Arijit Basu, Managing Director Banks
(Commercial Clients Group & IT) from (Nil) (Nil) (Nil)
25.06.2018
Advance Nil Nil Nil
6. Smt. Anshula Kant, Managing Director
(Nil) (Nil) (Nil)
(Stressed Assets, Risk & Compliance) from
07.09.2018. Investment 97.66 Nil 97.66
(77.10) (Nil) (77.10)
2. Parties with whom transactions were entered Non-fund Nil Nil Nil
into during the year commitments (Nil) (Nil) (Nil)
No disclosure is required in respect of (LCs/ BGs)
related parties, which are “State- During the year ended 31st March,2019
controlled Enterprises” as per paragraph 9 Interest Income Nil Nil Nil
of Accounting Standard (AS)
18. Further, in terms of paragraph 5 of AS (Nil) (Nil) (Nil)
18, transactions in the nature of Banker- Interest Nil Nil Nil
Customer relationship have not been
3. Transactions and Balances expenditure (0.09) (Nil) (0.09)
disclosed including those with Key
Management Personnel and relatives (`ofin Income earned by 19.26 Nil 19.26
Key Management Personnel. crore)
Particulars Associates/ Key Total way of dividend
(29.24) (Nil) (29.24)
Joint Management Other Income Nil Nil Nil
Ventures Personnel
(Nil) (Nil) (Nil)
& their
relatives Other expenditure Nil Nil Nil
st
Outstanding as at 31 March,2019 (7.66) (Nil) (7.66)
Borrowings Nil Nil Nil Profit/(loss) on Nil Nil Nil
sale
of land/building (Nil) (Nil) (Nil)
(Nil) (Nil) (Nil) and other assets
Deposit 46.09 Nil 46.09 Management Nil 1.32 1.32
1 STANDALO
Figures in brackets are for Previous Year.

STANDALO 1
There are no materially significant related party

transactions during the year. f) Accounting Standard – 22 “Accounting for Taxes
on Income”
d) Accounting Standard – 19 “Leases” a. Current Tax :-
Premises taken on operating lease are given
below: During the year the Bank has credited to
Profit & Loss Account ` 208.87 crore
Operating leases primarily comprise office (Previous Year
premises and staff residences, which are ` 673.54 crore debited) on account of
renewable at the option of the Bank. current tax. The Current Tax in India has
been calculated in accordance with the
(i) Liability for Premises taken on Non- provisions of Income Tax Act 1961 after
Cancellable operating lease are given taking appropriate relief for taxes paid in
below foreign jurisdictions.
(` in
crore) b. Deferred Tax :-
Particulars As at As at During the year, ` 954.12 crore has been

31st March, 31st March, debited to Profit and Loss Account (Previous
2019 2018 Year ` 9,654.33 crore credited) on account
of deferred tax.
Not later than 1 year 136.94 163.35
Later than 1 year and 485.41 535.88 The Bank has a net DTA of ` 10,420.16 crore
not later than 5 years (Previous Year net DTA of ` 11,365.99 crore),
which comprises of DTL of ` 2.33 crore
Later than 5 years 110.90 246.15
(Previous Year ` 2.80 crore) included under
Total 733.25 945.38
‘Other Liabilities and Provisions’ and Deferred
Tax Assets (DTA) of ` 10,422.49 crore
(ii) Amount of lease payments recognised in
(Previous Year ` 11,368.79 crore) included
the P&L Account for operating leases is `
under ‘Other Assets’. The major components of
3,309.41 crore (` 3,244.23 crore).
DTA and DTL is given below:
e) Accounting Standard -20 “Earnings per Share”
(` in crore)
The Bank reports basic and diluted earnings
per equity share in accordance with Particulars As at As at
Accounting Standard 31st March, 31st March,
20 - “Earnings per Share”. “Basic earnings” 2019 2018
per share is computed by dividing net profit Deferred Tax Assets (DTA)
after tax by the weighted average number of
Provision for long term 5,321.84 3,454.26
equity shares outstanding during the year.
employee Benefits
Particulars Current Year Previous Year Provision for advances 4,142.69 4,197.64
Basic and diluted Provision for Other Assets/ 753.11 743.57
Number of Equity 892,45,87,53 797,35,04,44 Other Liability
Shares outstanding at 4 2 On Accumulated 10,741.74 13,862.05
the beginning of the losses (including
year erstwhile ABs)
Number of Equity 24,000 95,10,83,09 On Foreign 235.77 -
Shares issued during 2 Currency
the year Translation
Number of Equity 892,46,11,53 892,45,87,53 Reserve
Shares outstanding at 4 4 Depreciation on Fixed 29.53 -
the end of the year Assets
Weighted average 892,45,91,47 853,30,51,13 On account of 277.67 317.04
number of equity 9 5 Foreign Offices
shares used in Total 21,502.35 22,574.56
computing basic
earnings per share Deferred Tax Liabilities
(DTL)
Weighted average 892,45,91,47 853,30,51,13
Depreciation on Fixed - 83.36
number of shares 9 5
Assets
used in computing
diluted earnings per Interest accrued but not 6,389.76 6,315.01
share due on Securities
Net profit / (loss) 862.23 (6,547.45) Special Reserve created 4,690.10 4,690.10
(` in crore ) u/s 36(1)(viii) of Income
Tax Act 1961
Basic earnings per share 0.97 (7.67)
On account of 2.33 2.80
Foreign Offices
1 STANDALO
(`)
Diluted earnings per 0.97 (7.67)
share (`)
Nominal value per share 1 1
(`)
STANDALO 1
g) Accounting Standard – 27 “Financial Reporting of

interests in Joint Ventures” Particulars As at As at
Investments include ` 97.66 crore (Previous Year Assets
` 67.66 crore) representing Bank’s interest in the Cash and 0.65 0.02
following jointly controlled entities.
Balances with
RBI
Sr. Name of the Amount Country of Holding Balances with 70.48 68.86
No Company ` in crore Residence % Banks and money
1 C - Edge 4.90 India 49% at call and short
Technologies Ltd. (4.90) notice
2 SBI Macquarie 18.57 India 45% Investments 90.95 49.47
Infrastructure (18.57) Advances - -
Management Pvt.
Fixed Assets 28.53 8.91
Ltd.
Other Assets 93.93 80.17
3 SBI Macquarie 0.03 India 45%
Infrastructure (0.03) Total 284.54 207.43
Trustee Pvt. Ltd. Capital - -
4 Maquarie SBI 2.25 Singapore 45% Commitments
Infrastructure (2.25) Other 2.63 1.28
Management Pte. Contingent
Ltd. Liabilities
5 Macquarie SBI - Bermuda 45% Income
Infrastructure (-) Interest earned 8.70 4.13
Trustee Ltd. # Other income 188.09 184.18
6 Oman India Joint 2.30 India 50%
Total 196.79 188.31
Investment Fund (2.30)
– Management Expenditure
Company Pvt. Ltd. Interest expended 0.20 0.23
7 Oman India Joint 0.01 India 50% Operating expenses 120.78 119.34
Investment Fund – (0.01) Provisions & 22.95 20.24
Trustee Company contingencies
Pvt. Ltd.
8 Jio Payments Bank 69.60 India 30% h) Accounting Standards – 28 “Impairment of Assets”
(39.60)
In the opinion of the Bank’s Management,
# Indirect holding through Maquarie SBI Infra there is no indication of impairment to the
Management Pte. Ltd., against which the company has assets during the year to which Accounting
made 100% provision on investments. Standard 28 – “Impairment of Assets” applies.
(Figures in brackets relate to previous year).
i) Accounting Standard – 29 “Provisions,
Contingent Liabilities and Contingent Assets”
As required by AS 27, the aggregate amount of the
assets, liabilities, income, expenses, contingent Description of Contingent liabilities:
liabilities and
commitments related to the Bank’s interests in jointly controlled
entities are disclosed as Sr. Particulars Brief Description
under: (` in No.
crore)
1 Claims Fu
Particulars As at As at against the
31st March, 2019 31st March, 2018 Bank not
Liabilities acknowledg
Capital & Reserves 214.01 153.26 ed as debts
Deposits 5.50 -
Borrowings 8.04 0.60
Other Liabilities 56.99 53.57
& Provisions
Total 284.54 207.43 2 Liability on
partly paid-
up
investments/
Venture
1 STANDALO
The Bank is a party to various proceedings in the normal course of business. This item represents amounts
The Bank does not expect the outcome of these proceedings to have a remaining unpaid towards liability
material adverse effect on the Bank's financial conditions, results of operations for partly paid investments. This
or cash flows. The Bank is also a party to various taxation matters in respect also includes undrawn
of which appeals are pending. commitments for Venture Capital
Funds.
STANDALO 1
j) Movement of provisions against Contingent Liabilities

Sr. Particulars Brief Description (` in crore)
No.
3 Liability on The Bank enters into foreign Particulars Current Year Previous Year
exchange Opening balance 503.16 423.34
account of contracts in its normal course of Additions during the 112.81 705.60
business year
outstanding to exchange currencies at a pre-
fixed Amount utilised during 51.51 227.64
forward price at a future date. Forward the year
exchange Unused amount 39.20 398.14
exchange contracts are commitments to buy reversed during the
or sell
year
contracts foreign currency at a future date
at the Closing balance 525.26 503.16
contracted rate. The notional
amounts Additions during the previous year includes receipt from
are recorded as Contingent erstwhile ABs and BMBL on acquisition.
Liabilities.
With respect to the
transactions 18.10. Additional Disclosures
entered into with its customers, 1. Provisions and Contingencies
the (` in crore)
Bank generally enters into off-
setting Break up of “Provisions Current Year Previous Year
transactions in the interbank market. and Contingencies”
This shown under head
results in generation of a higher Expenditure in Profit
number and loss account
of outstanding transactions, and
hence a Provision for Taxation
large value of gross notional - Current Tax 491.13 673.54
principal of
- Deferred Tax 954.12 (-) 9,654.33
the portfolio, while the net market
risk is - Write Back of (-) 700.00 -
lower. Income Tax
4 Guarantees As a part of its commercial Provision for (-) 762.09 8,087.58
Banking Depreciation on
given on activities, the Bank issues Investments
documentary
behalf of credits and guarantees on behalf Provision on 54,617.72 71,374.22
of its Non- Performing
constituents, customers. Documentary credits Assets
enhance Provision on (-) 88.66 (-) 693.99
acceptances, the credit standing of the
Restructured Assets
customers of
endorsement the Bank. Guarantees generally Provision on (-) 74.55 (-) 3,603.66
s represent Standard Assets
and other irrevocable assurances that the
Bank Other Provisions 136.13 (-) 124.95
obligations will make payment in the event of Total 54,573.80 66,058.41
the
customer failing to fulfil its 2. Floating Provisions
financial or (` in crore)
performance obligations.
5 Other items The Bank enters into currency
options, Opening Balance 193.7 25.1
for which forward rate agreements, 5 4
currency Addition during the - 168.61
the Bank is swaps and interest rate swaps with year
inter-
Draw down during the - -
year
Closing Balance 193.75 193.75
The Contingent Liabilities mentioned above are

Additions during the previous year includes receipt from
dependent upon the outcome of Court/ arbitration/out of
erstwhile ABs and BMBL on acquisition.
Court settlements, disposal of appeals, the amount being
called up, terms of contractual obligations, devolvement
and raising of demand by concerned parties, as the case
may be.
1 STANDALO
3. Draw down from Reserves

During the year, no draw down has been 8. Fees/remuneration received in respect of the
made from reserves. bancassurance business
(` in crore)
4. Status of complaints
Name of Company Current Year Previous Year
A. Customer complaints (including complaints SBI Life Insurance 951.90 714.75
relating to ATM transactions) Co. Ltd.
SBI General 270.86 212.57
Particulars As at As at Insurance Co. Ltd.
31st March, 31st March, NTUC and Manu 1.20 1.05
2019 2018 Life Financial
No. of complaints 79,259 46,282 Limited
pending at the Tokio Marine and ACE 1.63 0.32
beginning of the year
Unit Trust 0.47 0.26
No. of complaints 42,21,491 21,59,700
AIA Singapore 0.64 0.07
received during the
year TOTAL 1,226.70 929.02
No. of complaints 41,61,721 21,26,723
9. Concentration of Deposits, Advances, Exposures &
redressed during the
NPAs (computed as per directions of RBI)
year
No. of complaints 1,39,029 79,259 a) Concentration of Deposits
(` in crore)
Does not include complaints redressed within one
working day.
No. of complaints received during the previous year
include receipt from erstwhile ABs and BMBL on Total Deposits of 90,609.54 1,19,585.93
acquisition. twenty largest
depositors
B. Awards passed by the Banking Ombudsman Percentage of 3.11% 4.42%
Deposits of twenty
largest depositors to
Total Deposits of the
No. of unimplemented 8 3 b) Concentration of Advances
Awards at the (` in crore)
No. of Awards passed 19 78
Total Advances to 2,89,222.17 1,95,211.00
by the Banking
twenty largest
Ombudsman during
borrowers
the year
Percentage of 12.61% 7.91%
No. of Awards 22 73
Advances to twenty
implemented during
largest borrowers to
the year
Total Advances of the
No. of 5 8 Bank
unimplemented
Awards at the end c) Concentration of
Exposures (` in crore)
5. Payment to Micro, Small & Medium Enterprises
under the Micro, Small & Medium Enterprises Particulars Current Year Previous Year
Development Act, 2006
Total Exposure to 4,47,140.43 3,65,809.00
There has been no reported cases of delayed twenty largest
payments of the principal amount or interest borrowers/ customers
due thereon to Micro, Small & Medium Percentage of 12.80% 12.11%
Enterprises. Exposures to twenty
largest
6. Letter of Comfort
borrowers/customers
The Bank has not issued any letter of comfort to Total Exposure of
which are not recorded as contingent liabilities the Bank on
during the year ended 31st March, 2019 and borrowers/
31st March, 2018. d) Concentration of NPAs (` in crore)
7. Provisioning Coverage Ratio (PCR):
STANDALO 1
The Provisioning to Gross Non-Performing

Assets ratio of the Bank as on 31st March, 2019 Particulars Current Year Previous Year
is 78.73 % (Previous Year 66.17%). Total Exposure to top 30,314.49 38,239.70
four NPA accounts
1 STANDALO
10. Sector –wise Advances

(` in crore)
Sr. Sector Current Year Previous year
No. Outstanding Gross NPAs Percentage Outstanding Gross NPAs Percentag
Total of Gross Total e of Gross
Advances NPAs to Total Advances NPAs to
Advances in Total
that sector Advances in
that sector
A Priority Sector
1 Agriculture & 1,99,789.60 23,335.83 11.68 1,88,502.88 20,964.77 11.12
allied activities
2 Industry (Micro & 97,116.64 12,545.61 12.92 99,386.61 16,020.84 16.12
Small, Medium
and Large)
3 Services 99,232.43 9,674.48 9.75 74,363.81 7,339.66 9.87
4 Personal Loans 1,59,419.70 2,882.01 1.81 1,04,507.85 3,332.33 3.19
Sub-total (A) 5,55,558.37 48,437.93 8.72 4,66,761.15 47,657.60 10.21
B Non Priority Sector
1 Agriculture & 19,403.93 89.00 0.46 3,753.61 301.93 8.04
allied activities
2 Industry (Micro & 9,75,896.74 1,12,411.63 11.52 9,06,557.34 1,62,784.99 17.96
Small, Medium
and Large)
3 Services 2,47,541.38 8,007.30 3.23 2,20,925.77 9,264.85 4.19
4 Personal Loans 4,95,053.70 3,804.50 0.77 4,50,389.43 3,418.09 0.76
Sub-total (B) 17,37,895.75 1,24,312.43 7.15 15,81,626.15 1,75,769.86 11.11
C Total (A+B) 22,93,454.12 1,72,750.36 7.53 20,48,387.30 2,23,427.46 10.91
11. Overseas Assets, NPAs and Revenue

(` in crore)
No.
1 Total Assets 3,95,123.25 3,84,990.79
2 Total NPAs (Gross) 1,937.19 7,199.29
3 Total Revenue 14,216.42 11,302.47
12. Off-balance Sheet SPVs sponsored
Name of the SPV Sponsored

Domestic Overseas
Current Year NIL NIL
Previous Year NIL NIL
STANDALO 1
13. Disclosure relating to Securitisation

(` in crore)
No. Number Amount Number Amount
1. No. of the SPVs sponsored by the Bank for securitization Nil Nil Nil Nil
transactions
2. Total amount of securitized assets as per the books of Nil Nil Nil Nil
the SPVs sponsored by the bank
3. Total amount of exposures retained by the bank to comply with Nil Nil Nil Nil
MMR as on the date of balance sheet
a) Off-balance sheet exposures
i. First Loss
ii. Others
b) On-balance sheet exposures
i. First Loss
ii. Others
4. Amount of exposures to securitisation transactions other than Nil Nil Nil Nil
MMR
a) Off-balance sheet exposures
i. Exposures to own securitisations
1. First Loss
2. Others
ii. Exposures to third party securitisations
1. First Loss
2. Others
b) On-balance sheet exposures
i. Exposures to own securitisations
1. First Loss
2. Others
ii. Exposures to third party securitisations
1. First Loss
2. Others
14. Credit Default Swaps

(` in crore)
No. As As As As
Protection Protection Protection Protection
Buyer Seller Buyer Seller
1. No. of transactions during the year Nil Nil Nil Nil
a) of which transactions that are/may be physically settled
b) cash settled
2. Amount of protection bought / sold during the year Nil Nil Nil Nil
a) of which transactions which are/ may be physically settled
b) cash settled
3. No. of transactions where credit event payment was Nil Nil Nil Nil
received / made during the year
a) pertaining to current year’s transactions
b) pertaining to previous year’s transactions
4. Net income/ profit (expenditure/ loss) in respect of CDS Nil Nil Nil Nil
transactions during year-to-date:
a) premium paid / received
b) Credit event payments:
• made (net of the value of assets realised)
• received (net of value of deliverable obligation)
5. Outstanding transactions as on 31st March : Nil Nil Nil Nil
a) No. of Transactions
b) Amount of protection
6. Highest level of outstanding transactions during the year: Nil Nil Nil Nil
a) No. of Transactions (as on 1st April)
b) Amount of protection (as on 1st April )
1 STANDALO
15. Intra-Group Exposures:

(` in crore)
No.
i Total amount of intra-group exposures 27,765.01 25,469.43
ii Total amount of top-20 intra-group exposures 27,765.01 25,469.43
iii Percentage of intra-group exposures to total exposure of the bank on borrowers / 0.79% 0.84%
customers
iv Details of breach of limits on intra-group exposures and regulatory action thereon Nil Nil
16. Unclaimed Liabilities transferred to Depositor Education and Awareness Fund (DEA Fund)
(` in crore)
Opening balance of amounts transferred to DEA Fund 2,125.62 1,081.42
Add : Amounts transferred to DEA Fund during the year 736.65 1,050.31
Less : Amounts reimbursed by DEA Fund towards claims 9.61 6.11
Closing balance of amounts transferred to DEA Fund 2,852.66 2,125.62
Amounts transferred to DEA Fund during the year includes receipt from erstwhile ABs and BMBL on acquisition.
17. Unhedged Foreign Currency Exposure

The Bank in accordance with RBI Circular No. DBOD.No.BP.BC.85/21.06.200/2013-14 dated 15th January 2014 on
‘Capital and Provisioning Requirements for Exposure to entities has provided for Unhedged Foreign Currency
Exposure’.
An amount of ` 98.13 crore (Previous Year ` 86.44 crore) was held as on 31st March 2019 for towards Currency
Induced Credit Risk and Capital allocated for Currency Induced Credit Risk amounting to ` 43.19 crore (Previous
Year ` 66.49 crore).
18. Liquidity Coverage Ratio (LCR):

a) Standalone LCR
Liquidity Coverage Ratio (LCR) standard has been introduced with the objective that a bank maintains an
adequate level of unencumbered High Quality Liquid Assets (HQLAs) that can be converted into cash to
meet its liquidity needs for a 30 calendar day time horizon under a significantly severe liquidity stress
scenario.
LCR has been defined as :
Stock of high quality liquid assets (HQLAs)
Total net cash outflow over the next 30 calendar days
Liquid assets comprise of high quality assets that can be readily encashed or used as collateral to obtain cash
in a range of stress scenarios. There are two categories of assets included in the stock of HQLAs, viz. Level 1 and
Level 2 assets. While Level 1 assets are with 0% haircut, Level 2A and Level 2B assets are with 15% and
50% haircuts respectively. The total net cash outflow is the total expected cash outflows minus total expected
cash inflows for the subsequent 30 calendar days. Total expected cash outflows are calculated by multiplying the
outstanding balances of various categories or types of liabilities and off-balance sheet commitments by the
rates at which they are expected to run off or be drawn down. Total expected cash inflows are calculated by
multiplying the outstanding balances of various categories of contractual receivables by the rates at which they
are expected to flow in up to an aggregate cap of 75% of total expected cash outflows.
STANDALO 1
Quantitative Disclosure:
(` in
crore)
Quarter ended Quarter ended Quarter ended Quarter ended Quarter ended
31st March 2019 31st December 2018 30th September 2018 30th June 2018 31st March 2018
LCR Components Total Total Total Total Total Total Total Total Total Total
Unweighted Weighted Unweighted Weighted Unweighted Weighted Unweighted Weighted Unweighted Weighted
Value Value Value Value Value Value Value Value Value Value
(Average) (Average) (Average) (Average) (Average) (Average) (Average) (Average) (Average) (Average)
HIGH QUALITY LIQUID
ASSETS (HQLA)
1 Total High Quality 6,99,15 7,30,33 7,39,14 6,93,46 6,74,89
Liquid 3 7 8 0 4
Assets(HQLA)
Cash Outflows
2 Retail Deposits
and deposits from
small business
customers, of
which:
(i) Stable deposits 3,23,269 16,163 3,21,119 16,056 3,06,105 15,305 3,00,005 15,000 2,78,238 13,912
(ii Less Stable Deposits 18,50,12 1,85,012 18,22,08 1,82,208 17,90,92 1,79,092 17,59,07 1,75,908 17,51,39 1,75,140
) 0 2 4 6 6
3 Unsecured
wholesale
funding, of which:
(i Operational 1,208 302 928 232 759 190 930 232 63 16
) deposits(all
counterparti
es)
(ii Non-operational 6,35,727 3,73,978 6,07,012 3,46,204 6,11,590 3,48,024 6,00,814 3,41,376 5,56,336 3,27,440
) deposits(all
counterparties)
(iii Unsecured debt 0 0 0 0 0 0 0 0 0 0
)
4 Secured wholesale 72,120 54 68,811 2 29,820 3 21,070 0 30,025 0
funding
5 Additional
requirements, of
which
(i Outflows related 1,70,833 1,70,833 1,65,949 1,65,949 1,54,141 1,54,141 1,62,711 1,62,711 1,50,911 1,50,911
) to derivative
exposures and
other collateral
requirements
(ii Outflows related 0 0 0 0 0 0 0 0 0 0
) to loss of funding
on debt products
(iii Credit and liquidity 39,337 6,053 31,918 5,128 28,949 4,854 25,896 4,512 43,416 6,376
) facilities
6 Other contractual 35,561 35,561 34,919 34,919 27,454 27,454 29,441 29,441 39,838 39,838
funding obligations
7 Other contingent 5,72,831 20,941 5,79,289 21,158 5,66,376 20,688 5,63,555 20,759 5,63,500 20,659
funding
obligations
8 TOTAL CASH 37,01,00 8,08,896 36,32,02 7,71,856 35,16,11 7,49,751 34,63,49 7,49,938 34,13,72 7,34,290
OUTFLOWS 5 6 7 6 2
Cas Inflows
h
9 Secured lending 7,938 0 4,098 0 3,121 0 5,166 0 7,075 0
(e.g. Reverse
repos)
1 Inflows from fully 2,39,416 2,22,009 2,34,551 2,19,730 2,17,069 2,02,188 2,42,332 2,24,197 2,20,510 2,02,086
0 performing
exposures
1 Other cash inflows 37,977 31,086 41,666 33,605 42,221 33,154 37,813 29,804 38,779 28,758
1
1 Total Cash Inflows 2,85,331 2,53,095 2,80,315 2,53,335 2,62,411 2,35,343 2,85,311 2,54,001 2,66,364 2,30,844
2
13 TOTAL HQLA 6,99,153 7,30,337 7,39,148 6,93,460 6,74,894
14 TOTAL NET CASH 5,55,801 5,18,522 5,14,409 4,95,937 5,03,446
OUTFLOWS
15 LIQUIDITY 125.79% 140.85% 143.69% 139.83% 134.05%
COVERAGE RATIO(%)
Note 1 : In accordance with RBI Circular No. RBI/2014-15/529 DBR. No. BP.BC.80/21.06.201/2014-15 dated March 31, 2015 guidelines, average weighted and
1 STANDALO
st
unweighted amounts have been calculated considering simple daily average from 1 January 2017 and taking 69 data points for the quarter January-March
2019.
Note 2 : Bank has implemented OFSAA system whereby computation of daily LCR has been automated for Domestic operation since March 2018.
STANDALO 1
The LCR position is above the minimum 100% prescribed

by RBI. Bank’s LCR comes to 125.79% based on daily liquidity needs of the Bank on an ongoing basis.
average of three months (Q4 FY18-19). The average The Bank has been maintaining HQLA mainly in the form
HQLA for the quarter was of SLR investments over and above the mandatory
` 6,99,153 crore, of which, Level 1 assets constituted requirements. Retail deposits constitute major portion of
93.26% of total HQLA. Government securities constituted total funding sources, which are well diversified.
96.77% of Total Level 1 Assets. Level 2A Assets Management is of the view that the Bank has
constitutes 5.59% of total HQLA and Level 2B Assets sufficient liquidity cover to meet its likely future short
constitutes 1.15% of total HQLA. The net cash outflow term requirements.
position has slightly gone up on account of increase in
wholesale deposits where run-off rate is 40%-100%. b. Consolidated LCR
Derivative exposures are considered insignificant due to The RBI through a supplementary guideline issued
almost matching inflows and outflows position. During on 31st March 2015 had stipulated the
the quarter, LCR for USD (significant Foreign Currency implementation of LCR at a consolidated level from
constituting more than 5% of the Balance Sheet of the January 1, 2016. Accordingly, SBI Group has been
Bank) was 49.34% on average. computing the Consolidated LCR.
Liquidity Management in the Bank is driven by the The entities covered in the Group LCR are State
ALM Policy of the Bank and regulatory prescriptions. The Bank of India and eight Overseas Banking
Domestic and International Treasuries are reporting to Subsidiaries: Bank SBI Botswana Ltd, Commercial
the Asset Liability Management Committee (ALCO). The Indo Bank LLC, Moscow, Nepal SBI Bank Ltd., State
ALCO has been empowered by the Bank’s Board to Bank of India (California), SBI Canada Bank, SBI
formulate the Bank’s funding strategies to ensure that (Mauritius) Ltd., PT Bank SBI Indonesia and State
the funding sources are well diversified and is consistent Bank of India (UK) Ltd.
with the operational requirements of the Bank. All the
SBI Group LCR comes out to 125.96% as on 31 st
major decisions of ALCO are being reported to the Bank’s
March, 2019 based on average of three months
Board periodically. In addition to daily/monthly LCR
January, February and March, 2019.
reporting, Bank prepares daily Structural Liquidity
statements to assess the
1 STANDALO
(` in crore)
Quarter ended Quarter ended Quarter ended Quarter ended Quarter ended
31st March 2019 31st December 2018 30th September 2018 30th June 2018 31st March 2018
LCR COMPONENTS Total
Unweighted Total Total Total Total Total Total Total Total Total
Value Weighted Unweighted Weighted Unweighted Weighted Unweighted Weighted Unweighted Weighted
(Average) Value Value Value Value Value Value Value Value Value
(Average) (Average) (Average) (Average) (Average) (Average) (Average) (Average) (Average)
HIGH QUALITY LIQUID
ASSETS (HQLA)
1 Total High Quality 7,01,837 7,32,641 7,41,584 6,95,753 6,77,442
Liquid Assets(HQLA)
CASH OUTFLOWS
2 Retail Deposits and
deposits from small
business customers,
of which:
(i) Stable deposits 3,30,107 16,505 3,27,747 16,387 3,12,981 15,649 3,06,889 15,344 2,80,782 14,039
(ii) Less Stable Deposits 18,59,217 1,85,922 18,31,275 1,83,127 17,99,879 1,79,988 17,67,538 1,76,754 17,58,364 1,75,836
(i)3Operational
Unsecured 1,333 333 1,048 262 888 222 1,109 277 177 44
deposits(all
wholesale
counterparties)
(ii) Non-operational 6,37,579 3,75,202 6,09,736 3,48,144 6,14,172 3,49,945 6,03,745 3,43,707 5,58,884 3,29,566
deposits(all
counterparties)
(iii) Unsecured debt 0 0 0 0 0 0 0 0 0 0
4 Secured wholesale 72,120 54 68,811 2 29,843 27 21,070 0 30,209 184
funding
5 Additional
requirements, of
which
(i) Outflows related to 1,70,83 1,70,83 1,65,95 1,65,95 1,54,14 1,54,14 1,62,71 1,62,71 1,50,91 1,50,91
4 4 4 4 2 2 5 5 2 2
derivative exposures
and other collateral
requirements
(ii) Outflows related to 0 0 0 0 0 0 0 0 0 0
loss of funding on debt
products
(iii) Credit and 41,230 6,839 33,689 5,729 30,693 5,430 27,455 5,024 44,693 6,877
liquidity
facilities
6 Other contractual 36,556 36,556 35,568 35,568 27,999 27,999 30,017 30,017 40,639 40,639
funding
obligations
7 Other contingent 5,74,764 21,000 5,81,286 21,219 5,68,430 20,750 5,65,635 20,822 5,65,427 20,718
funding
obligations
8 TOTAL CASH OUTFLOWS 37,23,741 8,13,245 36,55,114 7,76,393 35,39,028 7,54,152 34,86,173 7,54,660 34,30,087 7,38,817
CASH INFLOWS
9 Secured lending 7,938 0 4,098 0 3,121 0 5,168 1 7,076 1
(e.g. Reverse
repos)
10 Inflows from fully 2,44,205 2,24,094 2,39,904 2,22,117 2,21,519 2,03,818 2,47,101 2,26,566 2,23,818 2,03,448
performing exposures
11 Other cash inflows 38,892 31,972 42,924 34,827 43,323 34,226 39,476 31,447 39,889 29,867
12 TOTAL CASH INFLOWS 2,91,034 2,56,066 2,86,926 2,56,945 2,67,962 2,38,043 2,91,745 2,58,014 2,70,783 2,33,316
13 TOTAL HQLA 7,01,837 7,32,641 7,41,584 6,95,753 6,77,442
14 TOTAL NET CASH 5,57,179 5,19,448 5,16,109 4,96,646 5,05,501
OUTFLOWS
15 LIQUIDITY COVERAGE 125.96% 141.04% 143.69% 140.09% 134.01%
RATIO(%)
Note : Monthly average of 3 months data considered for Overseas Banking Subsidiaries and daily average considered for SBI(Solo).
STANDALO 1
The Group has been maintaining HQLA mainly in the

form of SLR investments over and above the mandatory 23. Counter Cyclical Provisioning Buffer (CCPB)
requirements. Retail deposits constitute major portion of RBI vide Circular No. DBR.No.BP.BC.79/21.04.048/2014-15
total funding sources, and such funding sources are well dated 30th March 2015 on ‘Utilisation of Floating
diversified. Management is of the view that the Bank has Provisions/ Counter Cyclical Provisioning Buffer’ has
sufficient liquidity cover to meet its likely future short allowed the banks, to utilise up to 50 per cent of
term requirements. CCPB held by them as on 31st December 2014, for
making specific provisions for Non- Performing
19. Fraud Reported and provision made during the year: Assets (NPAs) as per the policy approved by the
Out of the total frauds of ` 12,387.13 crore in 2,616 Bank’s Board of Directors.
cases (Previous year ` 2,532.24 crore in 1,789
cases) reported during the year, an amount of ` During the year, the Bank has not utilized the CCPB
for making specific provision for NPAs.
12,310.90 crore in 581 cases (Previous year `
2,359.61 crore in 539 cases) represents advances 24. RBI vide Circular no.
declared as frauds. Full provision has been made for DBR.No.BP.BC.108/21.04.048/2017- 18 dated 6th
the outstanding balance as on 31st March, 2019 in June 2018 permitted banks to continue the
respect of frauds reported during the year. exposures to MSME borrowers to be classified as
standard assets. Accordingly, the bank has retained
20. Inter Office Accounts
advances of
Inter Office Accounts between branches, controlling ` 242.32 crores as standard asset as on 31st March
offices, local head offices and corporate centre 2019. In accordance with the provisions of the
establishments are being reconciled on an ongoing circular, the bank has not recognized interest on
basis and no material effect is expected on the these accounts and is maintaining a standard asset
profit and loss account of the current year. provision of ` 12.12 crores as on 31st March 2019 in
21. Sale of Assets to Reconstruction Companies respect of such borrowers.
Shortfall on account of sale of assets to 25. As per RBI letter no. DBR.No.BP.15199/21.04.048/2016-
reconstruction companies during the year 17
amounting to ` 173.37 crore (Previous Year ` 9.07 and DBR. No. BP. 1906/21.04.048/ 2017-18 dated
crore) has been fully charged in the current year. 23rd June 2017 and 28th August 2017 respectively, for
the accounts covered under the provisions of
22. Priority Sector Lending Certificate (PSLC) Insolvency and Bankruptcy Code (IBC), the bank is
The Bank has purchased the following PSLCs during holding total provision of ` 34,554 crores (89.66% of
the year:- total outstanding) as on 31st March, 2019.
(` in
crore) 26. The bank has made a provision of ` 3,984.00 crore
(Total
Sr. Category Current Previous ` 5,643.41 crore) for the year ended 31st March,
No. Year Year 2019 towards arrears of wages due for revision w.e.f
1. PSLC Micro Enterprises 16,272.75 350.00 1st November, 2017.
2. PSLC Agriculture 1,223.00 100.00 27. a) Profit / (loss) on sale of investment (net) under
schedule 14 “Other Income” includes ` 473.12
3. PSLC General 33,557.50 33,485.00
crore on sale of partial investment in SBI
4. PSLC Small and 553.00 1,664.00 General Insurance Company Limited (Previous
Marginal Farmers year ` 5,436.17 crore on sale of partial
Total 51,606.25 35,599.00 investment in SBI Life Insurance Company
Limited) .
The Bank did not sell any PSLC during the year ended
b) Miscellaneous Income under schedule 14 “Other
31st March, 2019 and 31st March, 2018. Income” includes ` 1,087.43 crore on
transfer of the bank’s merchant acquiring
business (MAB) to a wholly owned subsidiary
SBI Payment Services Private Limited (SBIPSPL)
pursuant to a business transfer agreement
dated 29th September, 2018 for a consideration
of ` 1,250 crore.
28. Previous year figures have been
regrouped/reclassified, wherever necessary, to
confirm to current year classification. In cases where
disclosures have been made for the first time in
terms of RBI guidelines / Accounting Standards,
previous year’s figures have not been mentioned.
1 STANDALO
State Bank of India

Cash Flow Statement for the year ended 31st March, 2019
(000s omitted)
PARTICULARS Year ended 31.03.2019 Year ended 31.03.2018
` `
CASH FLOW FROM OPERATING ACTIVITIES:
Net Profit / (loss) before Taxes 1607,48,31 (15528,24,16)
Adjustments for:
Depreciation on Fixed Assets 3212,30,65 2919,46,63
(Profit)/Loss on sale of Fixed Assets (Net) 34,98,24 30,03,00
(Profit)/Loss on revaluation of Investments (Net) 2124,03,82 1120,61,02
(Profit)/Loss on sale of Investments in Subsidiaries / Joint Ventures / (473,12,00) (5639,89,81)
Associates
Provision for diminution in fair value & Non Performing Assets 54529,06,14 70680,23,69
Provision on Standard Assets (74,55,42) (3603,66,16)
Provision for depreciation on Investments (762,09,23) 8087,57,43
Other provisions including provision for contingencies 136,12,79 (124,95,17)
Income from Investment in Subsidiaries / Joint Ventures / Associates (348,01,18) (448,51,70)
Interest on Capital Instruments 4112,28,55 4472,04,27
64098,50,67 61964,69,04
Adjustments for:
Increase/(Decrease) in Deposits 205042,72,57 121022,95,24
Increase/ (Decrease) in Borrowings other than Capital Instruments 37722,44,37 42629,85,28
(Increase)/ Decrease in Investments other than 94719,11,74 (136164,12,43)
Investments in Subsidiaries / Joint Ventures /
Associates
(Increase)/ Decrease in Advances (305525,79,00) (136597,79,56)
Increase/ (Decrease) in Other Liabilities (21247,50,61) (2214,19,47)
(Increase)/ Decrease in Other Assets (33604,14,67) (29086,42,24)
41205,35,07 (78445,04,14)
Tax refund/ (Taxes paid ) (6577,83,79) (6980,20,58)
NET CASH GENERATED FROM/ (USED IN) OPERATING ACTIVITIES A 34627,51,28 (85425,24,72)
CASH FLOW FROM INVESTING ACTIVITIES:
(Increase)/ Decrease in Investments in Subsidiaries / Joint (2116,29,59) (1104,10,39)
Ventures / Associates
Profit/(Loss) on sale of Investments in Subsidiaries / Joint Ventures / 473,12,00 5639,89,81
Associates
Income from Investment in Subsidiaries / Joint Ventures / Associates 348,01,18 448,51,70
(Increase)/ Decrease in Fixed Assets (2663,43,31) (4104,97,78)
Cash paid to shareholders of erstwhile Domestic Banking - (25,18)
Subsidiaries & Bhartiya Mahila Bank towards fractional
entitlements consequent to merger
STANDALO 1
(000s omitted)
PARTICULARS Year ended 31.03.2019 Year ended 31.03.2018
` `
NET CASH GENERATED FROM/ (USED IN) INVESTING ACTIVITIES B (3958,59,72) 879,08,16
CASH FLOW FROM FINANCING ACTIVITIES:
Proceeds from issue of equity shares including share (8,74,21) 23782,45,47
premium (Net of Share issue expenses)
Issue/(Redemption) of Capital Instruments (Net) 3033,20,00 (12603,22,50)
Interest on Capital Instruments (4112,28,55) (4472,04,27)
Dividend paid including tax thereon - (2416,26,71)
NET CASH GENERATED FROM/ (USED IN) FINANCING ACTIVITIES C (1087,82,76) 4290,91,99
EFFECT OF EXCHANGE FLUCTUATION ON TRANSLATION D 1010,38,16 1291,94,79
RESERVE
CASH & CASH EQUIVALENTS RECEIVED ON ACCOUNT OF E - 98890,28,99
MERGER OF DOMESTIC BANKING SUBSIDIARIES & BHARTIYA
MAHILA BANK
NET INCREASE/(DECREASE) IN CASH & CASH EQUIVALENTS 30591,46,96 19926,99,21
(A+B+C+D+E)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR 191898,64,19 171971,64,98
CASH AND CASH EQUIVALENTS AT END OF THE YEAR 222490,11,15 191898,64,19
Note:
(1) Components of Cash & Cash Equivalents as at: 31.03.2019 31.03.2018
Cash & Balance with RBI 176932,41,75 150397,18,14
Balances with Banks and money at call & short notice 45557,69,40 41501,46,05
222490,11,15 191898,64,19
(2) Cash flow from operating activities is reported by using indirect
method.
IT)
Directors:
Dr. Girish Kumar
Ahuja Shri B.
Venugopal
Dr. Purnima
Gupta Shri
Chandan Sinha
Shri Sanjiv
Malhotra Dr.
Pushpendra Rai
Place: Mumbai
Date: 10th May 2019
1 STANDALO



A GOPALAKRISHNAN



BHUPENDER
Firm Regn. No. 303029E
MANTRI Place : Mumbai
STANDALO 1
Independent Auditors’ Report
To
required by the Banking Regulation Act, 1949 and
State Bank of India Act 1955, in the manner so
The President of India
required for the Bank and are in conformity with
accounting principles generally accepted in India
Report on Audit of the Standalone Financial Statements
and give:
Opinion a) true and fair view in case of the Balance Sheet, of
1. We have audited the accompanying Standalone the State of Affairs of the Bank as at March 31,
Financial Statements of State Bank of India (“the 2019;
Bank”) which comprise the Balance Sheet as at b) true balance of profit in case of Profit & Loss
March 31, 2019, the Profit and Loss Account and Account for the year ended on that date; and
Cash Flow Statement for the year then ended, and
Notes to Standalone Financial Statements including c) true and fair view in case of Cash Flow Statement
a summary of Significant Accounting Policies and for the year ended on that date.
other explanatory information in which are included
returns for the year ended on that date of: Basis for Opinion
2. We conducted our audit in accordance with the
i. The Central offices, 16 Local Head offices, 1 Admin Standards on Auditing (SAs) issued by the Institute
& Business unit, Global Market Unit, International of Chartered Accountants of India (the ICAI). Our
Business Group, Corporate Accounts Group responsibilities under those Standards are further
(Central), Commercial Client Group (Central), described in the Auditor’s Responsibilities for the
Stressed Asset Resolution Group (Central), Central Audit of the Standalone Financial Statements
Accounts Offices and 42 branches audited by us; section of our report. We are independent of the
ii. 14,758 Indian branches audited by Statutory Branch Bank in accordance with the code of ethics issued
Auditors; by the ICAI together with ethical requirements that
are relevant to our audit of the Standalone Financial
iii. 38 Foreign branches audited by Local Auditors; Statements under the provisions of the Act, and we
The branches audited by us and those audited by have fulfilled our other ethical responsibilities in
other auditors have been selected by the Bank in accordance with these requirements and the code of
accordance with the guidelines issued to the Bank ethics. We believe that the audit evidence we have
by the Reserve Bank of India. Also incorporated in obtained is sufficient and appropriate to provide a
the Balance Sheet, the Profit and Loss Account are basis for our opinion.
the returns from 8,447 Indian branches (including
Key Audit Matters
other accounting units) and those have not been
subjected to audit. These unaudited branches 3. Key Audit Matters are those matters that in our
account for 3 percent of advances, 11.44 per professional judgment were of most significance in
cent of deposits, 7.35 per cent of interest income our audit of the Standalone Financial Statements for
and 12.80 per cent of interest expenses. the year ended March 31, 2019. These matters were
addressed in the context of our audit of the
In our opinion and to the best of our information and Standalone Financial Statements as a whole and in
according to the explanations given to us, the forming our opinion thereon and we do not provide a
aforesaid Standalone Financial Statements give separate opinion on these matters. We have
the information determined the matters described below to be the
Key Audit Matters to be communicated in our
report:-
Sr. Key Audit Matters Auditors’ Response

No.
i Classification of Advances and Identification of Our audit approach towards advances with reference
and provisioning for non-performing Advances in to the IRAC norms and other related circulars /
accordance with the RBI guidelines (Refer directives issued by RBI and also internal policies and
Schedule 9 read with Note 3 of Schedule 17 to the procedures of the Bank includes the testing of the
financial statements) following:
Advances include Bills purchased and discounted, - The accuracy of the data input in the system for
Cash credits, Overdrafts loans repayable on income recognition, classification into performing
demand and Term loans. These are further and non- performing Advances and provisioning
1 STANDALO
categorised as secured by Tangible assets in accordance with the IRAC Norms in respect of
(including advances against Book Debts), covered the branches allotted to us;
by Bank / Government Guarantees and Unsecured
advances.
STANDALO 1

No.
Advances constitute 59.38% of the Bank’s total - Existence and effectiveness of monitoring
assets. They are, inter-alia, governed by income mechanisms such as Internal Audit, Systems
recognition, asset classification and provisioning Audit, Credit Audit and Concurrent Audit as per
(IRAC) norms and other circulars and directives the policies and procedures of the Bank;
issued by the RBI from time to time which
We have examined the efficacy of various internal
provides guidelines related to classification of
controls over advances to determine the nature,
Advances into performing and non-performing
timing and extent of the substantive procedures and
Advances (NPA). The Bank classifies these
compliance with the observations of the various
Advances based on IRAC norms as per its
audits conducted as per the monitoring mechanism of
accounting policy No. 3.
the Bank and RBI Inspection.
Identification of performing and non-performing
In carrying out substantive procedures at the
Advances involves establishment of proper
branches allotted to us, we have examined all large
mechanism. The Bank accounts for all the
advances/stressed advances while other advances
transactions related to Advances in its
have been examined on a sample basis including
Information Technology System (IT System) viz.
review of valuation reports of independent valuer’s
Core Banking Solutions (CBS) which also identifies
provided by the Bank’s management.
whether the advances are performing or non-
performing. Further, NPA classification and Reliance is also placed on Audit Reports of other
calculation of provision is done through another IT Statutory Branch Auditors with whom we have also
System viz. Centralised Credit Data Processing made specific communication.
(CCDP) Application.
We have also relied on the reports of External IT
The carrying value of these advances (net of System Audit experts with respect to the business
provisions) may be materially misstated if, either logics / parameters inbuilt in CBS for tracking,
individually or in aggregate, the IRAC norms are identification and stamping of NPAs and provisioning
not properly followed. in respect thereof.
Considering the nature of the transactions,
regulatory requirements, existing business
environment, estimation/ judgement involved in
valuation of securities, it is a matter of high
importance for the intended users of the
Standalone Financial Statements. Considering
these aspects, we have determined this as a Key
Audit Matter.
Accordingly, our audit was focused on income
recognition, asset classification and provisioning
pertaining to advances due to the materiality of
the balances.
ii Classification and Valuation of Investments, Our audit approach towards Investments with
Identification of and provisioning for Non- reference to the RBI Circulars / directives included
Performing Investments (Schedule 8 read with the review and testing of the design, operating
Note 2 of Schedule 17 to the financial statements) effectiveness of internal controls and substantive
audit procedures in relation to valuation,
Investments include investments made by the
classification, identification of Non Performing
Bank in various Government Securities, Bonds,
Investments, Provisioning / depreciation related to
Debentures, Shares, Security receipts and other
Investments. In particular,
approved securities.
a. We evaluated and understood the Bank’s
Investments constitute 26.27% of the Bank’s total
internal control system to comply with relevant
assets. These are governed by the circulars
RBI guidelines regarding valuation, classification,
and directives of the Reserve Bank of India (RBI).
identification of Non Performing Investments,
These directions of RBI, inter-alia, cover valuation
Provisioning / depreciation related to
of investments, classification of investments,
investments;
identification of non-performing investments, the
corresponding non-recognition of income and b. We assessed and evaluated the process
provision there against. adopted for collection of information from
various sources for determining fair value of
The valuation of each category (type) of the
these investments;
aforesaid securities is to be done as per the
method prescribed in circulars and directives c. For the selected sample of investments in hand,
issued by the RBI which involves collection of we tested accuracy and compliance with the RBI
data/information from various sources such as Master Circulars and directions by re-performing
FIMMDA rates, rates quoted on BSE / NSE, valuation for each category of the security.
1 STANDALO
financial statements of unlisted companies etc. Samples were selected after ensuring that all the
Considering the complexities and extent of categories of investments (based on nature of
judgement involved in the valuation, volume of security) were covered in the sample;
transactions, investments on hand and degree of
regulatory focus, this has been determined as a
Key Audit Matter.
STANDALO 1

No.
Accordingly, our audit was focused on valuation d. We assessed and evaluated the process of
of investments, classification, identification of Non identification of NPIs, and corresponding reversal
Performing Investments and provisioning related of income and creation of provision;
to investments.
e. We carried out substantive audit procedures to
recompute independently the provision to be
maintained and depreciation to be provided in
accordance with the circulars and directives of
the RBI. Accordingly, we selected samples from
the investments of each category and tested for
NPIs as per the RBI guidelines and recomputed
the provision to be maintained in accordance
with the RBI Circular for those selected sample of
NPIs;
f. We tested the mapping of investments between
the Investment application software and the
financial statement preparation software to
ensure compliance with the presentation and
disclosure requirements as per the aforesaid RBI
Circular/directions.
iii Assessment of Provisions and Contingent Our audit approach involved :-
liabilities in respect of certain litigations including
a. Understanding the current status of the
Direct and Indirect Taxes, various claims filed by
litigations/tax assessments;
other parties not acknowledged as debt.
(Schedule 12 read with Note 18.9 of Schedule 18 b. Examining recent orders and/or communication
to the financial statements) : received from various Tax Authorities/ Judicial
forums and follow up action thereon;
There is high level of judgement required in
estimating the level of provisioning. The Bank’s c. Evaluating the merit of the subject matter under
assessment is supported by the facts of matter, consideration with reference to the grounds
their own judgment, past experience, and advices presented therein and available independent
from legal and independent tax consultants legal / tax advice ; and
wherever considered necessary. Accordingly,
unexpected adverse outcomes may significantly d. Review and analysis of evaluation of the
impact the Bank’s reported profit and the Balance contentions of the Bank through discussions,
Sheet. collection of details of the subject matter under
consideration, the likely outcome and
We determined the above area as a Key Audit consequent potential outflows on those issues.
Matter in view of associated uncertainty relating
to the outcome of these matters which requires
application of judgment in interpretation of law.
Accordingly, our audit was focused on analysing
the facts of subject matter under consideration
and judgments/ interpretation of law involved.
Information Other than the Standalone Financial Statements and Auditors’ Report thereon
4. The Bank’s Board of Directors is responsible for the
other information. The other information comprises identified above and, in doing so, consider whether
the Corporate Governance report (but does not the other information is materially inconsistent with
include the Standalone Financial Statements and the Standalone Financial Statements or our
our auditors’ report thereon), which we obtained at knowledge obtained in the audit or otherwise
the time of issue of this auditors’ report, and the appears to be materially misstated.
Directors’ Report including annexures, if any, If, based on the work we have performed on the
thereon, which is expected to be made available to other information that we obtained prior to the date
us after that date. of this auditors’ report, we conclude that there is a
Our opinion on the Standalone Financial Statements material misstatement of this other information, we
does not cover the other information and the Basel are required to report that fact. We have nothing
III Disclosure and we do not and will not express any to report in this regard.
form of assurance conclusion thereon. When we read the Director’s Report, including
In connection with our audit of the Standalone annexures, if any, thereon, if we conclude that there
Financial Statements, our responsibility is to read is a material misstatement therein, we are required
the other information to communicate the matter to those charged with
governance.
1 STANDALO
Responsibilities of Management and Those Charged with detecting a material misstatement resulting
Governance for the Standalone Financial Statements from fraud is higher than for one resulting
from error, as fraud may involve collusion,
5. The Bank’s Board of Directors is responsible with
forgery, intentional omissions,
respect to the preparation of these Standalone
misrepresentations or the override of
Financial Statements that give a true and fair view
internal control.
of the financial position, financial performance and
cash flows of the Bank in accordance with the
accounting principles generally accepted in India
including the Accounting Standards issued by ICAI,
and provisions of Section 29 of the Banking
Regulation Act, 1949, the State Bank of India Act,
1955 and circulars and guidelines issued by RBI
from time to time. This responsibility also includes
maintenance of adequate accounting records in
accordance with the provisions of the Act for
safeguarding of the assets of the Bank and for
preventing and detecting frauds and other
irregularities; selection and application of
appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and
design, implementation and maintenance of
adequate internal financial controls, that were
operating effectively for ensuring the accuracy
and completeness of the accounting records,
relevant to the preparation and presentation of the
financial statements that give a true and fair view
and are free from material misstatement, whether
due to fraud or error.
In preparing the Standalone Financial Statements,
management is responsible for assessing the Bank’s
ability to continue as a going concern, disclosing, as
applicable, matters related to going concern and
using the going concern basis of accounting unless
management either intends to liquidate the Bank or
to cease operations, or has no realistic alternative
but to do so.
Those Board of Directors are also responsible for
overseeing the Bank’s financial reporting process.
Auditors’ Responsibility for the Audit of Standalone

Financial Statements
6. Our objectives are to obtain reasonable assurance
about whether the Standalone Financial Statements
as a whole are free from material misstatement
whether due to fraud or error and to issue an
auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material
misstatement when it exists. Misstatements can
arise from fraud or error and are considered
material, if individually or in aggregate, they could
reasonably be expected to influence the economic
decisions of users taken on the basis of these
Standalone Financial Statements.
As part of an audit in accordance with SAs, we
exercise professional judgment and maintain
professional skepticism throughout the audit. We
also:
• Identify and assess the risks of material
misstatement of the Standalone Financial
Statements, whether due to fraud or error,
design and perform audit procedures
responsive to those risks and obtain audit
evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not
STANDALO 1
• Evaluate the appropriateness of accounting

policies used and the reasonableness of
accounting estimates and related disclosures
made by management.
• Conclude on the appropriateness of
management’s use of the going concern basis of
accounting and, based on the audit evidence
obtained, whether a material uncertainty exists
related to events or conditions that may cast
significant doubt on the Bank’s ability to continue
as a going concern. If we conclude that a material
uncertainty exists, we are required to draw
attention in our auditors’ report to the related
disclosures in the Standalone Financial
Statements or, if such disclosures are
inadequate, to modify our opinion. Our
conclusions are based on the audit evidence
obtained up to the date of our auditors’ report.
However, future events or conditions may cause
the Bank to cease to continue as a going concern.
• Evaluate the overall presentation structure and
content of the Standalone Financial Statements,
including the disclosures and whether the
Standalone Financial Statements represent the
underlying transactions and events in a manner
that achieves fair presentation.
Materiality is the magnitude of misstatements in
the Standalone Financial Statements that,
individually or in aggregate, makes it probable
that the economic decisions of a reasonably
knowledgeable user of the financial statements
may be influenced. We consider quantitative
materiality and qualitative factors in (i) planning
the scope of our audit work and in evaluating the
results of our work; and (ii) to evaluate the effect
of any identified misstatements in the financial
statements.
We communicate with those charged with
governance regarding, among other matters, the
planned scope and timing of the audit and
significant audit findings, including any significant
deficiencies in internal control that we identify
during our audit.
We also provide those charged with governance
with a statement that we have complied with
relevant ethical requirements regarding
independence and to communicate with them all
relationships and other matters that may
reasonably be thought to bear on our
independence, and where applicable, related
safeguards.
From the matters communicated with those
charged with governance, we determine those
matters that were of most significance in the
audit of the Standalone Financial Statements of
the current period and are therefore the Key Audit
Matters. We describe these matters in our
auditors’ report unless law or regulation precludes
public disclosure about the matter or when, in
extremely rare circumstances, we determine that
a matter should not be communicated in our
report because the adverse consequences of
doing so would reasonably be expected to
outweigh the public interest benefits of such
communication.
1 STANDALO
Other Matters
We further report that:
7. We did not audit the financial statements /
information of 14,796 branches included in the a) In our opinion, proper books of account as required
standalone financial statements of the Bank whose by law have been kept by the Bank so far as it
financial statements / financial information reflect appears from our examination of those books and
total advances of ` 14,00,731.01 crores at 31st proper returns adequate for the purposes of our
March 2019 and total interest income of ` audit have been received from branches not visited
1,06,540.62 crores for the year ended on that date, by us;
as considered in the standalone financial
b) the Balance Sheet, the Profit and Loss Account and
statements. The financial statements
Cash Flow Statement dealt with by this report are in
/ information of these branches have been audited
agreement with the books of account and with
by the branch auditors whose reports have been
the returns received from the branches not visited
furnished to us, and in our opinion in so far as it
by us;
relates to the amounts and disclosures included in
respect of branches, is based solely on the report of c) the reports on the accounts of the branch offices
such branch auditors. audited by branch auditors of the Bank as per the
provisions of the section 29 of the Banking
Our opinion is not modified in respect of above
Regulation Act, 1949, and the State Bank of India
matters.
Act, 1955 have been sent to us and have been
properly dealt with by us in preparing this report;
Report on Other Legal and Regulatory Requirements and
8. The Balance Sheet and the Profit and Loss Account d) in our opinion, the Balance Sheet and the Profit
have been drawn up in accordance with Section 29 and Loss Account and Cash Flow Statement comply
of the Banking Regulation Act, 1949; and these with the applicable accounting standards, to the
give information as required to be given by virtue of extent they are not inconsistent with the
the provisions of the State Bank of India Act, 1955 accounting policies prescribed by the RBI.
and regulations there under.
Subject to the limitations of the audit indicated in
paragraph 5 to 7 above and as required by the
State Bank of India Act, 1955, and subject also to
the limitations of disclosure required therein, we
report that:
a) We have obtained all the information and
explanations which, to the best of our knowledge
and belief, were necessary for the purposes of our
audit and have found them to be satisfactory;
b) The transactions of the Bank, which have come to
our notice, have been within the powers of the
Bank; and
c) The returns received from the offices and
branches of the Bank have been found adequate
for the purposes of our audit.
STANDALO 1



A GOPALAKRISHNAN



BHUPENDER
Firm Regn. No. 303029E
MANTRI Place : Mumbai
1 CONSOLIDATE
State Bank of India

Consolidated Balance Sheet as at 31st March, 2019
(000s omitted)
Schedule As at 31.03.2019 As at 31.03.2018
` `
CAPITAL AND LIABILITIES
Capital 1 892,46,12 892,45,88
Reserves & Surplus 2 233603,19,93 229429,48,68
Minority Interest 6036,99,13 4615,24,51
Deposits 3 2940541,06,11 2722178,28,21
Borrowings 4 413747,66,10 369079,33,88
Other Liabilities and Provisions 5 293645,68,92 290249,75,29
TOTAL 3888467,06,31 3616444,56,45
ASSETS
Cash and Balances with Reserve Bank of India 6 177362,74,09 150769,45,69
Balances with Banks and Money at Call & Short Notice 7 48149,52,30 44519,65,14
Investments 8 1119247,76,62 1183794,24,19
Advances 9 2226853,66,72 1960118,53,51
Fixed Assets 10 40703,05,26 41225,79,26
Other Assets 11 276150,31,32 236016,88,66
TOTAL 3888467,06,31 3616444,56,45
Contingent Liabilities 12 1121246,27,83 1166334,80,21
Bills for Collection 70047,22,64 74060,22,00
Schedules referred to above form an integral part of the Balance Sheet
Smt. Anshula Kant Shri Arijit Basu Shri Dinesh Kumar Khara Shri P. K. Gupta
MD (SARC) MD (CCG & IT) MD (GB & S) MD (R & DB)
In term of our Report of even date.

For J.C. Bhalla & Co.
Chartered Accountants
Shri Rajnish Kumar Shri Rajesh Sethi

Chairman Partner
Mumbai Mem. No. : 085669
Dated 10th May 2019 Firm Regn. No. : 001111N
CONSOLIDATE 1
Schedules
Schedule 1 - Capital
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
Authorised Capital : 5000,00,00 5000,00,00
5000,00,00,000 equity shares of ` 1 /- each
(Previous Year 5000,00,00,000 equity shares of ` 1/- each)
Issued Capital : 892,54,05 892,54,05
892,54,05,164 equity shares of ` 1/- each
Subscribed and Paid up Capital : 892,46,12 892,45,88
892,46,11,534 equity shares of ` 1/- each
[The above includes 12,10,71,350 equity shares of ` 1/- each (Previous Year
12,62,48,980 equity shares of ` 1/- each) represented by 1,21,07,135 (Previous
Year 1,26,24,898) Global Depository Receipts]
TOTAL 892,46,12 892,45,88
Schedule 2 - Reserves & Surplus

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Statutory Reserves
Opening Balance 65958,04,13 64753,52,12
Deductions during the year - 66344,10,03 - 65958,04,13
II. Capital Reserves #

Opening Balance 9578,07,76 5246,09,99
Deductions during the year - 9957,28,52 30,61 9578,07,76
III. Share Premium

Opening Balance 79124,21,51 55423,23,36
Additions during the year 37,92 23718,58,11
Deductions during the year 9,12,38 79115,47,05 17,59,96 79124,21,51
IV. Foreign Currency Translation Reserves

Opening Balance 6379,09,54 5073,92,01
1 CONSOLIDATE
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
V. Revaluation Reserve
Opening Balance 24847,98,65 35593,88,13
Additions during the year - 662,40,83
VI. Revenue and Other Reserves

Opening Balance 53483,27,03 54644,18,21
Additions during the year ## 1213,96,33 3264,59,39
VII. Balance in Profit and Loss Account (8328,39,99) (9941,19,94)

TOTAL 233603,19,93 229429,48,68
# includes Capital Reserve on consolidation ` 123,66,46 thousand (Previous Year `

123,66,46 thousand) ## net of consolidation adjustments
Schedule 3 - Deposits
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
A. I. Demand Deposits
(i) From Banks 6722,18,31 5240,84,61
(ii) From Others 201073,14,59 185795,42,20
II. Savings Bank Deposits 1102172,37,48 1019137,42,48
III. Term Deposits
(i) From Banks 8235,22,81 15027,28,78
(ii) From Others 1622338,12,92 1496977,30,14
TOTAL 2940541,06,11 2722178,28,21
B I. Deposits of Branches in India 2812134,71,07 2596232,33,79
II. Deposits of Branches outside India 128406,35,04 125945,94,42
TOTAL 2940541,06,11 2722178,28,21
CONSOLIDATE 1
Schedule 4 - Borrowings
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Borrowings in India
(i) Reserve Bank of India 96089,00,00 95394,09,00
(ii) Other Banks 4741,05,31 4822,21,61
(iii) Other Institutions and Agencies 32112,46,32 4370,23,49
(iv) Capital Instruments :
a. Innovative Perpetual Debt 19152,30,00 11835,00,00
Instruments (IPDI)
b. Subordinated Debt & Bonds 29153,93,90 48306,23,90 33665,66,40 45500,66,40
TOTAL 181248,75,53 150087,20,50
II. Borrowings outside India
(i) Borrowings and Refinance outside India 229909,13,07 216974,38,38
(ii) Capital Instruments :
a. Innovative Perpetual Debt 2074,65,00 1955,25,00
Instruments (IPDI)
b. Subordinated Debt & Bonds 515,12,50 2589,77,50 62,50,00 2017,75,00
TOTAL 232498,90,57 218992,13,38
GRAND TOTAL (I & II) 413747,66,10 369079,33,88

Secured Borrowings included in I & II above 127177,07,29 108384,82,97
Schedule 5 - Other Liabilities & Provisions

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Bills payable 23914,03,90 26667,07,53
II. Inter Bank Adjustments (net) - -
III. Inter Office adjustments (net) 21735,79,14 40734,57,50
IV. Interest accrued 14232,96,48 15996,01,47
V. Deferred Tax Liabilities (net) 4,17,10 5,38,82
VI Liabilities relating to Policyholders in Insurance Business 140095,62,31 115128,68,83
VII Provision for Standard Assets 12709,13,43 12717,18,97
VIII Others (including provisions) 80953,96,56 79000,82,17
TOTAL 293645,68,92 290249,75,29
1 CONSOLIDATE
Schedule 6 - Cash and Balances with Reserve Bank of India
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Cash in hand (including foreign currency notes and gold) 19144,28,44 15796,02,76
II. Balance with Reserve Bank of India
(i) In Current Account 158197,60,63 134973,42,93
(ii) In Other Accounts 20,85,02 -
TOTAL 177362,74,09 150769,45,69
Schedule 7 - Balances with Banks and Money at Call & Short Notice
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. In India
(i) Balances with banks
(a) In Current Accounts 971,83,35 380,85,00
(b) In Other Deposit Accounts 1959,46,21 2275,38,97
(ii) Money at call and short notice
(a) With banks 4608,88,73 1613,94,26
(b) With other institutions - -
TOTAL 7540,18,29 4270,18,23
II. Outside India
(i) In Current Accounts 20571,96,27 29445,08,67
(ii) In Other Deposit Accounts 3205,38,56 1550,38,84
(iii) Money at call and short notice 16831,99,18 9253,99,40
TOTAL 40609,34,01 40249,46,91
Schedule 8 - Investments
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Investments in India in :
(i) Government Securities 817674,70,52 898369,89,37
(ii) Other Approved Securities 13769,53,82 9203,62,94
(iii) Shares 42825,92,12 36902,41,97
(iv) Debentures and Bonds 123765,40,08 108220,08,31
(v) Subsidiary and Associates 3383,71,53 3061,30,04
(vi) Others (Units of Mutual Funds, Commercial Papers etc.) 63880,18,56 80682,84,64
TOTAL 1065299,46,63 1136440,17,27

II. Investments outside India in :
(i) Government Securities (including local authorities) 14513,99,84 13318,89,79
CONSOLIDATE 1
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(ii) Associates 136,33,52 113,74,52
(iii) Other Investments (Shares, Debentures, 39297,96,63 33921,42,61
etc.)
TOTAL 53948,29,99 47354,06,92
III. Investments in India :
Net Investments (vide I above) 1065299,46,63 1136440,17,27
IV. Investments outside India :
Net Investments (vide II above) 53948,29,99 47354,06,92
GRAND TOTAL (III and IV) 1119247,76,62 1183794,24,19
Schedule 9 - Advances
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
A. I. Bills purchased and discounted 81528,37,41 68767,36,05
II. Cash Credits, Overdrafts and Loans Repayable on demand 799218,03,33 758550,41,15
III. Term loans 1346107,25,98 1132800,76,31
TOTAL 2226853,66,72 1960118,53,51

B. I. Secured by tangible assets (includes advances against Book Debts) 1603654,21,87 1515859,93,23
II. Covered by Bank/ Government Guarantees 80289,66,46 68812,50,75
III. Unsecured 542909,78,39 375446,09,53
TOTAL 2226853,66,72 1960118,53,51

C. I. Advances in India
(i) Priority Sector 520729,77,60 448358,95,60
(ii) Public Sector 240295,89,39 161939,24,46
(iii) Banks 9494,93,60 3280,07,87
(iv) Others 1127585,24,83 1031896,41,62
TOTAL 1898105,85,42 1645474,69,55

1 CONSOLIDATE
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
II. Advances outside India
(i) Due from banks 69802,85,72 77109,63,56
(ii) Due from others
(a) Bills purchased and discounted 26741,06,57 14668,01,47
(b) Syndicated loans 150765,88,72 124511,75,00
(c) Others 81438,00,29 98354,43,93
TOTAL 328747,81,30 314643,83,96

GRAND TOTAL [C (I) and C (II)] 2226853,66,72 1960118,53,51
Schedule 10 - Fixed Assets

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Premises
At cost/revalued as on 31st March of 30933,23,37 42107,56,59
the preceding year
Additions:
- during the year 707,34,92 119,06,88
- for Revaluation - -
Depreciation to date:
- on cost 793,71,67 666,86,16
- on Revaluation 497,17,97 30310,07,97 308,66,78 29957,70,43
II. Other Fixed Assets (including furniture

and fixtures)
At cost/revaluation as on 31st March of 31649,29,47 28512,42,79
the preceding year
Depreciation to date 23627,73,26 9557,69,89 21359,74,23 10289,55,24
III. Leased Assets

At cost/revalued as on 31st March of the 120,02,20 117,38,81
preceding year
Deductions during the year 57,63 4,22,13
Depreciation to date (including 82,11,57 66,55,50
provisions)
72,97,65 53,46,70
Less : Lease Adjustment Account - 72,97,65 - 53,46,70
IV. Assets under Construction (including 762,29,75 925,06,89

Premises)
TOTAL (I, II, III and IV ) 40703,05,26 41225,79,26
CONSOLIDATE 1
Schedule 11 - Other Assets
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Inter Office adjustments (net) 7,71,53 -
II. Inter Bank Adjustments (net) 123,67,98 26,70,13
III. Interest accrued 29047,16,58 28002,40,66
IV. Tax paid in advance / tax deducted at source 24699,95,89 17728,89,88
V. Stationery and Stamps 133,99,80 125,47,34
VI. Non-banking assets acquired in satisfaction of claims 23,65,84 30,41,48
VII. Deferred tax assets (net) 10983,19,07 11837,70,33
VIII. Deposits placed with NABARD/SIDBI/NHB 138245,29,37 95643,16,91
IX. Others # 72885,65,26 82622,11,93
TOTAL 276150,31,32 236016,88,66

# Includes Goodwill on consolidation ` 1734,07,01 thousand (Previous Year ` 1734,07,01 thousand)
Schedule 12 - Contingent Liabilities
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Claims against the group not acknowledged as debts 43964,90,09 35546,03,53
II. Liability for partly paid investments / Venture Funds 1127,87,61 619,44,30
III. Liability on account of outstanding forward exchange contracts 597800,34,53 644808,04,15
IV. Guarantees given on behalf of constituents
(a) In India 157417,08,56 149282,50,36
(b) Outside India 72739,27,63 67762,40,06
V. Acceptances, endorsements and other obligations 124526,15,33 121900,95,22
VI. Other items for which the group is contingently liable 123670,64,08 146415,42,59
TOTAL 1121246,27,83 1166334,80,21
Bills for collection 70047,22,64 74060,22,00

1 CONSOLIDATE
State Bank of India

Consolidated Profit And Loss Account For The Year Ended 31st March 2019
(000s omitted)
Schedule Year ended 31.03.2019 Year ended 31.03.2018
` `
I. INCOME
Interest earned 13 253322,14,36 228970,27,66
Other Income 14 77365,21,58 77557,39,04
TOTAL 330687,35,94 306527,66,70
II. EXPENDITURE
Interest expended 15 155867,46,03 146602,98,20
Operating expenses 16 114800,30,80 96154,51,90
Provisions and contingencies 56950,51,70 67957,57,98
TOTAL 327618,28,53 310715,08,08
III. PROFIT/(LOSS)
Net Profit /(Loss) for the year (before adjustment 3069,07,41 (4187,41,38)
for Share in Profit of Associates and Minority
Interest)
Add: Share in Profit of Associates 281,47,94 438,15,98
Less: Minority Interest 1050,91,44 807,03,60
Net Profit/(Loss) for the Group 2299,63,91 (4556,29,00)
Profit/(Loss) Brought forward (9941,19,94) (4340,03,96)
TOTAL (7641,56,03) (8896,32,96)
IV. APPROPRIATIONS
Transfer to Statutory Reserves 386,05,90 59,94,63
Transfer to Other Reserves 243,79,58 921,21,43
Dividend for the previous year paid during the - -
year (including Tax on Dividend)
Final Dividend for the year - -
Tax on Dividend 56,98,48 63,70,92
Balance carried over to Balance Sheet (8328,39,99) (9941,19,94)
TOTAL (7641,56,03) (8896,32,96)
Basic Earnings per Share ` 2.58 ` (5.34)
Diluted Earnings per Share ` 2.58 ` (5.34)
Schedules referred to above form an integral part
of the Profit & Loss Account


Chairman Partner
CONSOLIDATE 1
Schedule 13 - Interest Earned
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Interest / discount on advances/ bills 166124,58,30 144958,59,17
II. Income on Investments 80243,50,66 75036,61,62
III. Interest on balances with Reserve Bank of India and other inter-bank funds 1324,75,88 2410,75,18
IV. Others 5629,29,52 6564,31,69
TOTAL 253322,14,36 228970,27,66
Schedule 14 - Other Income

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Commission, exchange and brokerage 22801,37,60 22829,85,38
II. Profit / (Loss) on sale of investments (Net) # 3933,13,61 14170,08,63
III. Profit / (Loss) on revaluation of investments (Net) (2124,03,82) (1120,61,02)
IV. Profit /(Loss) on sale of land, building and other assets including leased (32,35,82) (30,73,27)
assets (net)
V. Profit / (Loss) on exchange transactions (Net) 2209,07,07 2522,45,61
VI. Dividends from Associates in India/ abroad 11,71,87 15,45,97
VII. Income from Finance Lease - -
VIII. Credit Card membership/ service fees 3179,78,08 2126,48,67
IX. Insurance Premium Income (net) 35225,02,54 26925,87,69
X. Recoveries made in Write-off Accounts 8607,44,37 5522,46,46
XI. Miscellaneous Income 3554,06,08 4596,04,92
TOTAL 77365,21,58 77557,39,04
# Profit/(Loss) on sale of investments (Net)includes exceptional item of ` 466.48 crore (Previous year ` 5036.21
crore)
Schedule 15 - Interest Expended

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Interest on Deposits 140920,19,82 136109,15,67
II. Interest on Reserve Bank of India/ Inter-bank borrowings 10103,57,61 5686,89,92
III. Others 4843,68,60 4806,92,61
TOTAL 155867,46,03 146602,98,20
Schedule 16 - Operating Expenses

(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
I. Payments to and provisions for employees 43795,01,41 35410,62,16
II. Rent, taxes and lighting 5553,08,91 5392,58,19
III. Printing & Stationery 595,00,09 603,44,87
IV. Advertisement and publicity 2360,81,37 1997,56,23
V. (a) Depreciation on Fixed Assets (other than Leased Assets) 3479,97,41 3094,39,40
1 CONSOLIDATE
(000s omitted)
As at 31.03.2019 As at 31.03.2018
` `
(b) Depreciation on Leased Assets 15,91,80 10,67,70
VI. Directors’ fees, allowances and expenses 9,71,04 6,53,54
VII. Auditors’ fees and expenses (including branch auditors’ fees and expenses) 307,00,17 296,38,24
VIII. Law charges 578,53,06 501,90,13
IX. Postages, Telegrams, Telephones, etc. 568,56,57 671,28,78
X. Repairs and maintenance 1057,77,33 971,89,71
XI. Insurance 2860,59,09 2774,59,09
XII. Other Operating Expenses relating to Credit Card Operations 1105,59,01 1155,03,28
XIII. Other Operating Expenses relating to Insurance Business 37907,82,48 29377,17,22
XIV. Other Expenditure 14604,91,06 13890,43,36
TOTAL 114800,30,80 96154,51,90
Schedule 17- Significant Accounting Policies: group balances/transactions, unrealised profit/
A. Basis of Preparation:
The accompanying financial statements have been
prepared under the historical cost convention, on the
accrual basis of accounting on going concern basis,
unless otherwise stated and conform in all material
aspects to Generally Accepted Accounting Principles
(GAAP) in India, which comprise applicable statutory
provisions, regulatory norms/guidelines prescribed by the
Reserve Bank of India (RBI), Banking Regulation Act,
1949, Insurance Regulatory and Development Authority
of India (IRDAI), Pension Fund Regulatory and
Development Authority (PFRDA), SEBI (Mutual Funds)
Regulations, 1996, Companies Act 2013, Accounting
Standards issued by the Institute of Chartered
Accountants of India (ICAI), and the prevalent accounting
practices in India. In case of foreign entities, Generally
Accepted Accounting Principles as applicable to the
foreign entities are followed.
B. Use of Estimates:
The preparation of financial statements requires the
management to make estimates and assumptions
considered in the reported amounts of assets and
liabilities (including contingent liabilities) as on the date
of the financial statements and the reported income and
expenses during the reporting period. Management
believes that the estimates used in preparation of the
financial statements are prudent and reasonable. Future
results could differ from these estimates.
C. Basis of Consolidation:
1. Consolidated financial statements of the Group
(comprising of 29 subsidiaries, 8 Joint Ventures
and 20 Associates) have been prepared on the
basis of:
a. Audited financial statements of State Bank of
India (Parent).
b. Line by line aggregation of each item of
asset/liability/ income/expense of the
subsidiaries with the respective item of the
Parent, and after eliminating all material intra-
CONSOLIDATE 1
loss, and making necessary adjustments

wherever required for non-uniform
accounting policies as per AS 21
“Consolidated Financial Statements”
issued by the ICAI.
c. Consolidation of Joint Ventures –
‘Proportionate Consolidation’ as per AS
27 “Financial Reporting of Interests in
Joint Ventures” issued by the ICAI.
d. Accounting for investment in
‘Associates’ under the ‘Equity Method’
as per AS 23 “Accounting for Investments
in Associates in Consolidated Financial
Statements” issued by the ICAI.
e. In terms of RBI circular on “Strategic
Debt Restructuring Scheme”, the
controlling interest acquired in entities as
part of Strategic Debt Restructuring
Scheme is neither considered for
consolidation nor such investment is
treated as investments in subsidiary/
associate as the control is protective in
nature and not participative.
2. The difference between cost to the group

of its investment in the subsidiary
entities and the group’s portion of the
equity of the subsidiaries is recognised in
the financial statements as goodwill /
capital reserve.
3. Minority interest in the net assets of the
consolidated subsidiaries consists of:
a. The amount of equity attributable to
the minority at the date on which
investment in a subsidiary is made,
and
b. The minority share of movements in
revenue reserves/loss (equity) since
the date the parent- subsidiary
relationship came into existence.
D. Significant Accounting Policies

1. Revenue recognition:
1.1 Income and expenditure are accounted
on accrual basis, except otherwise
stated. As regards, foreign
offices/entities, income and expenditure
are
1 CONSOLIDATE
recognised as per the local laws of the country 1.9 Brokerage, Commission etc. paid/incurred in
in which the respective foreign offices/entities connection with issue of Bonds/Deposits are
are located. amortized over the tenure of the related
Bonds/Deposits and the expenses incurred in
1.2 Interest/Discount income is recognised in the
connection with the issue are charged
Profit and Loss Account as it accrues except (i)
upfront.
income from Non- Performing Assets (NPAs),
comprising of advances, leases and
investments, which is recognised upon
realisation, as per the prudential norms
prescribed by the RBI/ respective country
regulators in the case of foreign offices/entities
(hereafter collectively referred to as
Regulatory Authorities), (ii) overdue interest
on investments and bills discounted, (iii)
Income on Rupee Derivatives designated as
“Trading”, which are accounted on realisation .
1.3 Profit or Loss on sale of investments is
recognised in the Profit and Loss Account.
However, the profit on sale of investments in
the ‘Held to Maturity’ category is appropriated
(net of applicable taxes and amount required
to be transferred to statutory reserve) to
‘Capital Reserve Account’.
1.4 Income from finance leases is calculated by
applying the interest rate implicit in the lease
to the net investment outstanding in the lease,
over the primary lease period. Leases effective
from April 1, 2001 are accounted as advances
at an amount equal to the net investment in
the lease as per Accounting Standard 19 –
“Leases”, issued by ICAI. The lease rentals are
apportioned between principal and finance
income based on a pattern reflecting a
constant periodic return on the net
investment outstanding in respect of finance
leases. The principal amount is utilized for
reduction in balance of net investment in lease
and finance income is reported as interest
income.
1.5 Income (other than interest) on investments in
“Held to Maturity” (HTM) category acquired at
a discount to the face value, is recognised as
follows:
i. On Interest bearing securities, it is recognised
only at the time of sale/ redemption.
ii. On zero-coupon securities, it is accounted for
over the balance tenor of the security on a
constant yield basis.
1.6 Dividend income is recognised when the right
to receive the dividend is established.
1.7 Commission on LC/ BG, Deferred Payment
Guarantee, Government Business, ATM
interchange fee & ‘Upfront fee on restructured
account’ are recognised on accrual basis
proportionately for the period. All other
commission and fee income are recognised on
their realisation.
1.8 One time Insurance Premium paid under
Special Home Loan Scheme (December 2008
to June 2009) is amortised over average loan
period of 15 years.
CONSOLIDATE 1
1.10 The sale of NPA is accounted as per guidelines

prescribed by RBI:-
i. When the bank sells its financial assets to
Securitisation Company (SC)/Reconstruction
Company (RC), the same is removed from the
books.
ii. If the sale is at a price below the net book value
(NBV) (i.e., book value less provisions held), the
shortfall is debited to the Profit and Loss Account
in the year of sale
iii. If the sale is for a value higher than the NBV, the
excess provision is written back in the year the
amounts are received, as permitted by the RBI.
1.11 Non-banking entities:
Merchant Banking:
a. Issue management and advisory fees are
recognised based on the stage of completion of
assignments and as per the terms of the
agreement with the client, net of pass-through.
b. Fees for private placement are recognised on
completion of assignment.
c. Brokerage income in relation to stock broking
activity is recognized on the trade date of
transaction and includes stamp duty, transaction
charges and is net of scheme incentives paid.
d. Commission relating to public issues is
accounted for on finalisation of allotment of the
public issue/receipt of information from
intermediary.
e. Brokerage income relating to public
issues/mutual fund/other securities is accounted
for based on mobilisation and intimation
received from clients/ intermediaries.
f. Depository income – Annual Maintenance
Charges are recognised on accrual basis and
transaction charges are recognised on trade
date of transaction.
Asset Management:
a. Management fee is recognised at specific rates
agreed with the relevant schemes, applied on
the average daily net assets of each scheme
(excluding inter-scheme investments, wherever
applicable, investments made by the company in
the respective scheme and deposits with Banks),
and are in conformity with the limits specified
under SEBI (Mutual Funds) Regulations, 1996.
b. Portfolio Advisory Services, Portfolio
Management Services and Management Fees on
Alternative Investment Fund (AIF) are recognised
on accrual basis as per the terms of the contract.
c. Recovery, if any, on realisation of devolved
investments of schemes acquired by the
company, in terms of the right of subrogation, is
accounted on the basis of receipts. Recovery
from funded guarantee schemes is recognised as
income in the year of receipt.
1 CONSOLIDATE
d. Expenses of schemes in excess of the b. Top-up premiums are considered as single premium.
stipulated rates and expenses relating to new
c. Income from linked funds which includes fund
fund offer are charged to the Profit and Loss
management charges, policy administration charges,
Account in the year in which they are incurred
mortality charges, etc. are recovered from linked fund
in accordance with the requirements of SEBI
in accordance with terms and conditions of policy and
(Mutual Funds) Regulations, 1996.
recognised when recovered.
Brokerage and/or incentive paid on
investments in open-ended Equity Linked Tax
Saving Schemes and Systematic Investment
Plans (SIPs) are amortised over a period of 36
months and in case of other schemes, over the
claw back period. In case of close-ended
schemes, brokerage is amortised over the
tenure of schemes.
Credit Card Operations:

a. First annual fee and subsequent renewal fee
are recognised over a period of one year as
this more closely reflects the period to which
the fee relates to.
b. Interchange income is recognised on accrual
basis.
c. The total unidentified receipts which could not
be credited or adjusted in the customers’
accounts for lack of complete & correct
information is considered as liability in balance
sheet. The estimated unidentified receipts
aged more than 6 months and up to 3 years
towards the written off customers is written
back as income on balance sheet date. Further,
the unresolved unidentified receipts aged more
than 3 years are also written back as income
on balance sheet date. The liability for stale
cheques aged for more than three years is
written back as income.
d. All other service income/fees are recorded at
the time of occurrence of the respective
events.
Factoring:
Factoring charges are accrued on factoring of debts
at the applicable rates as decided by the company.
Processing fees are recognised as income only when
there is reasonable certainty of its receipt after
execution of documents. Facility Continuation fees
(FCF) are calculated and charged in the month of
May for the entire next financial year on all live
standard accounts. 1st of May is deemed as date for
accrual of the FCF.
Life Insurance:
a. Premium of non-linked business is recognised
as income (net of service tax/ goods and
service tax) when due from policyholders. In
respect of linked business, premium income is
recognised when the associated units are
allotted. In case of Variable Insurance Products
(VIPs), premium income is recognised on the
date when the Policy Account Value is credited.
Uncollected premium from lapsed policies is
not recognised as income until such policies
are revived.
CONSOLIDATE 1
d. Realised gains and losses in respect of Insurance Act 1938, and as per the rules and
equity securities and units of mutual regulations and circulars issued by IRDAI and
funds are calculated as the difference the relevant Guidance Notes and/or Actuarial
between the net sales proceeds and Practice Standards (APS) issued by the Institute
their cost. In respect of debt securities, of Actuaries of India.
the realised gains and losses are
Non-linked business is reserved using a
calculated as difference between net
prospective gross premium valuation method.
sale proceeds or redemption proceeds
Mathematical reserves are calculated based on
and weighted average amortised cost.
future assumptions having regard to current
Cost in respect of equity shares and
and future experience. The
units of mutual fund are computed using
the weighted average method.
e. Fees received on lending of equity
shares under Securities Lending and
Borrowing scheme (SLB) is recognised as
income over the period of the lending on
straight-line basis.
f. Premium ceded on reinsurance is
accounted in accordance with the terms
of the re-insurance treaty or in-principle
arrangement with the re-insurer.
g. Benefits paid:
◆ Claims cost consist of the policy
benefit amounts and claims
settlement costs, where applicable.
◆ Claims by death and rider are
accounted when intimated.
Intimations up to the end of the
period are considered for accounting
of such claims.
◆ Claims by maturity are accounted on
the policy maturity date.
◆ Survival and Annuity benefits claims
are accounted when due.
◆ Surrenders and withdrawals are
accounted as and when intimated.
Benefits paid also includes amount
payable on lapsed policies which are
accounted for as and when due.
Surrenders, withdrawals and
lapsation are disclosed at net of
charges recoverable.
◆ Repudiated claims disputed before
judicial authorities are provided for
based on management prudence
considering the facts and evidences
available in respect of such claims.
◆ Amounts recoverable from re-
insurers are accounted for in the
same period as the related claims
and are reduced from claims.
h. Acquisition costs such as commission,
medical fees, etc. are costs that are
primarily related to the acquisition of
new and renewal insurance contracts.
The same are expensed in the period in
which they are incurred.
i. Liability for life policies: The actuarial
liability of all the life insurance policies
has been calculated by the Appointed
Actuary in accordance with the
1 CONSOLIDATE
unit liability in respect of linked business has payable as estimated by the management
been considered as the value of the units based on available information and past
standing to the credit of the policy holders, experience, on receipt of claim notification.
using the Net Asset Value (NAV) as on the Such provision is reviewed / modified as
valuation date. Variable insurance policies appropriate on the basis of additional
(VIPs) have also been valued in a manner information as and when available.
similar to the ULIP business by considering
liability as the policy account standing to the
credit of the policy holders plus additional
provisions for adequacy of charges to meet
expenses.
General Insurance:
a. Premium including reinsurance accepted (net
of goods & service tax) is recorded in the
books at the commencement of risk. In case
the premium is recovered in instalments,
amount to the extent of instalment due is
recorded on the due date of the instalment.
Premium (net of goods & service tax),
including reinstatement premium, on direct
business and reinsurance accepted, is
recognized as income over the contract period
or the period of risk, whichever is appropriate,
on a gross basis under 1/365 method. Any
subsequent revision to premium is recognized
over the remaining period of risk or contract
period. Adjustments to premium income arising
on cancellation of policies are recognised in
the period in which they are cancelled.
b. Commission received on reinsurance ceded is
recognised as income in the period in which
reinsurance risk is ceded. Profit commission
under reinsurance treaties, wherever
applicable, is recognized as income in the year
of final determination of the profits as
intimated by Reinsurer and combined with
commission on reinsurance ceded.
c. In respect of proportional reinsurance ceded,
the cost of reinsurance ceded is accrued at the
commencement of risk. Non-proportional
reinsurance cost is recognized when due. Non-
proportional reinsurance cost is accounted as
per the terms of the reinsurance
arrangements. Any subsequent revision to,
refunds or cancellations of premiums is
recognized in the period in which they occur.
d. Reinsurance inward acceptances are
accounted for on the basis of returns, to the
extent received, from the insurers.
e. Acquisition costs are expensed in the period in
which they are incurred. Acquisition costs are
defined as costs that vary with, and are
primarily related to the acquisition of new and
renewal insurance contracts viz. commission.
The primary test for determination as
acquisition cost is the obligatory relationship
between the costs and the execution of the
insurance contracts (i.e. commencement of
risk).
f. Claim is recognised as and when a loss
occurrence is reported. Claim is recognised by
creation of provision for the amount of claim
CONSOLIDATE 1
Amounts received/receivable from the re-

insurers/ co-insurers, under the terms of the
reinsurance and coinsurance arrangements
respectively, is recognised together with the
recognition of claim. Provision for claims
outstanding payable as on the date of Balance
Sheet is net of reinsurance, salvage value and
other recoveries as estimated by the
management.
g. Provision in respect of claim liabilities that may
have been incurred before the end of the
accounting year but are
- not yet reported or claimed (IBNR) or
- not enough reported i.e. reported with
information insufficient for making a
reasonable estimate of likely claim amount
(IBNER),
The provision is made according to the amount
determined by the Appointed Actuary based on
actuarial principles in accordance with the
Actuarial Practice Standards and Guidance Notes
issued by the Institute of Actuaries of India and
IRDAI regulations and guidelines.
Custody & Fund accounting services:

The revenue (net of goods & service tax) is recognised
to the extent that it is probable that the economic
benefits will flow to the company and the revenue can
be reliably measured.
Pension Fund Operation:

Management fee is recognized at specific rates
agreed with the relevant schemes, applied on daily
net assets of each scheme, and is in conformity with
the regulatory guidelines issued by Pension Fund
Regulatory and Development Authority (PFRDA). The
Company presents revenues net of Service Tax/ goods
and service tax
Trustee Operations:
a. Mutual Fund Trusteeship fee is recognised at
specific rates agreed with relevant schemes,
applied on the average daily Net Assets of each
scheme (excluding inter-scheme investment,
investment in fixed deposits, investments made
by the Asset Management Company and
deferred revenue expenses, where applicable),
and is in conformity with the limits specified
under SEBI (Mutual Funds) Regulations, 1996.
b. Corporate Trusteeship Acceptance fees are
recognised on the acceptance or execution of
trusteeship assignment whichever is earlier.
Corporate Trusteeship service charges are
recognised/accrued on the basis of terms of
trusteeship contracts/ agreements entered into
with clients.
c. Income from online “will” services is
recognised when the right to receive the fee is
established, as all certainty for revenue
recognition is present at the time of
establishment of such right.
1 CONSOLIDATE
Infrastructure and Facility Management:

2.3 Valuation:
Revenue from management and consultancy fees is
recognised as and when the said contractual work is A. Banking Business:
awarded to the vendor and the agreed scope of i. In determining the acquisition cost of an
work is completed by the vendor. investment:
Merchant Acquiring Business: a. Brokerage/commission received on

subscriptions is reduced from the cost.
a. The revenue is measured on basis of
consideration received or receivable for the b. Brokerage, commission, securities
services provided, excluding discounts, GST transaction tax, etc. paid in connection
and other applicable taxes and are recognised with acquisition of investments are
upon performance of services. expensed upfront and excluded from cost.
b. The revenue from deployment of POS is c. Broken period interest paid / received on
recognised either over the period during which debt instruments is treated as interest
the service is rendered or on basis of the expense/income and is excluded from
number of transactions processed during the cost/sale consideration.
period in accordance with the rates and
d. Cost of investment under AFS and HFT
conditions specified in the agreements
category is determined at the weighted
c. Income received but not accrued on account of average cost method by the group entities
maintenance deployment contract are and cost of investments under HTM
recognised as deferred revenue and included in category is determined on FIFO basis (first
liabilities until the revenue recognition criteria in first out) by SBI and weighted average
are met. Income accrued but not billed cost method by other group entities.
represents revenue recognised on work
ii. Transfer of securities from HFT/AFS
performed but billed in subsequent period
category to HTM category is carried out at
based on terms of contract.
the lower of acquisition cost/book
d. Revenue of providing services of Merchant value/market value on the date of transfer.
Acquiring are recognised on fully loaded cost The depreciation, if any, on such transfer
plus mark up on such costs is fully provided for. However, transfer of
securities from HTM category to AFS
e. Revenue is recognised to the extent it is category is carried out on acquisition
probable that the economic benefits will flow price/book value. After transfer, these
and the revenue can be reliably measured securities are immediately revalued and
resultant depreciation, if any, is provided.
2. Investments:
iii. Treasury Bills and Commercial Papers are
The transactions in all securities are recorded on valued at carrying cost.
“Settlement Date”
iv. Held to Maturity category: Investments
2.1 Classification: under Held to Maturity category are
Investments are classified into three categories, viz. carried at acquisition cost unless it is more
Held to Maturity (HTM), Available for Sale (AFS) and than the face value, in which case the
Held for Trading (HFT) as per RBI Guidelines. premium is amortised over the period of
remaining maturity on constant yield
2.2 Basis of classification: basis. Such amortisation of premium
i. Investments that the Bank intends to hold till is adjusted against income under the head
maturity are classified as “Held to Maturity “interest on investments”. A provision is
(HTM)”. made for diminution, other than
temporary, for each investment
ii. Investments that are held principally for resale individually. Investments in Regional Rural
within 90 days from the date of purchase are Banks (RRBs) are valued at equity cost
classified as “Held for Trading (HFT)”. determined in accordance with AS 23 of
the ICAI.
iii. Investments, which are not classified in the
above two categories, are classified as v. Available for Sale and Held for Trading
“Available for Sale (AFS)”. categories: Investments held under AFS and
iv. An investment is classified as HTM, HFT or AFS HFT categories are individually revalued at
at the time of its purchase and subsequent the market price or fair value determined
shifting amongst categories is done in as per Regulatory guidelines, and only the
conformity with regulatory guidelines. net depreciation of each group for each
category (viz., (i) Government securities
(ii) Other Approved Securities (iii) Shares
(iv) Bonds and Debentures (v) Subsidiaries
and Joint Ventures; and (vi) others) is
provided for and net appreciation, is
CONSOLIDATE 1
ignored. On provision for

depreciation, the book value of the
individual security remains
unchanged after marking to market.
1 CONSOLIDATE
vi. In case of sale of NPA (financial is reflected using the Repo/Reverse Repo
asset) to Securitisation Company (SC)/ Accounts and Contra entries. The above
Asset Reconstruction Company (ARC) entries are reversed on the date of maturity.
against issue of Security Receipts (SR), Costs and revenues
investment in SR is recognised at lower
of (i) Net Book Value (NBV) (i.e., book
value less provisions held) of the financial
asset and (ii) Redemption value of SR. SRs
issued by an SC/ARC are valued in
accordance with the guidelines applicable
to non-SLR instruments. Accordingly, in
cases where the SRs issued by the SC/ARC
are limited to the actual realisation of the
financial assets assigned to the
instruments in the concerned scheme, the
Net Asset Value, obtained from the
SC/ARC, is reckoned for valuation of such
investments.
vii. Investments are classified as performing
and non-performing, based on the
guidelines issued by the RBI in the case of
domestic offices/entities and respective
regulators in the case of foreign
offices/entities. Investments of domestic
offices become non-performing where:
a. Interest/instalment (including maturity
proceeds) is due and remains unpaid for
more than 90 days.
b. In the case of equity shares, in the event
the investment in the shares of any
company is valued at ` 1 per company on
account of the non-availability of the latest
balance sheet, those equity shares would
be reckoned as NPI.
c. If any credit facility availed by an entity is
NPA in the books of the bank, investment
in any of the securities issued by the same
entity would also be treated as NPI and
vice versa.
d. The above would apply mutatis-mutandis
to Preference Shares where the fixed
dividend is not paid.
e. The investments in debentures/bonds,
which are deemed to be in the nature of
advance, are also subjected to NPI norms
as applicable to investments.
f. In respect of foreign offices/entities,
provisions for NPIs are made as per the
local regulations or as per the norms of
RBI, whichever is more stringent.
viii. Accounting for Repo/Reverse Repo

transactions (other than transactions under
the Liquidity Adjustment Facility (LAF) with
the RBI)
a. The securities sold and purchased under Repo/
Reverse Repo are accounted as Collateralized
lending and borrowing transactions.
However securities are transferred as in the
case of normal outright sale/ purchase
transactions and such movement of securities
CONSOLIDATE 1
are accounted as interest expenditure/income, change in the fair value of listed equity shares,
as the case may be. Balance in Repo A/c is mutual fund units and AIFs pertaining to
classified under Schedule 4 (Borrowings) and shareholders’ investments and non-linked
balance in Reverse Repo A/c is classified under policyholders investments are taken
Schedule 7 (Balance with Banks and Money at
Call & Short Notice).
b. Interest expended/earned on Securities
purchased/ sold under LAF with RBI is accounted
for as expenditure/ revenue.
Market repurchase and reverse repurchase
transactions as well as the transactions with RBI
under Liquidity Adjustment Facility (LAF) are
accounted for as Borrowings and Lending
transactions in accordance with the extant RBI
guidelines.
B. Insurance Business:
In case of life and general insurance subsidiaries,
investments are accounted in accordance
with the Insurance Act, 1938, the IRDAI
(Investment) Regulations, 2016 and IRDA
(Presentation of Financial Statements and
Auditor’s Report of Insurance Companies)
Regulations, 2002, investment policy of the
company and various other circulars /
notifications as issued by IRDAI from time to
time.
(i) Valuation of investment pertaining to non-linked life
insurance business and general insurance
business: -
◆ All debt securities, including government
securities and money market securities are
stated at historical cost subject to amortisation
of premium or accretion of discount.
◆ Listed equity shares, equity related instruments
and preference shares are measured at fair
value on the Balance Sheet date. For the
purpose of determining fair value, the closing
price at primary exchange i.e. National Stock
Exchange of India Limited (‘NSE’) is
considered. If NSE closing price is not available,
the closing price of the secondary exchange i.e.
BSE Limited (‘BSE’) is considered.
◆ Unlisted equity securities, equity related
instruments and preference shares are
measured at historical cost.
◆ In case of Security Lending and Borrowing (SLB),
equity shares lent are valued as per valuation
policy for equity shares as mentioned above.
◆ Additional Tier 1 (Basel III compliant) Perpetual
Bonds classified under “Equity” as specified
by IRDAI, are valued at prices obtained from
Credit Rating Information Services of India
Limited (CRISIL).
◆ Investments in mutual fund units are valued at
the Net Asset Value (NAV) of previous day in life
insurance and of balance sheet date in general
insurance.
◆ Investment in Alternative Investment Funds
(AIFs) are valued at latest available NAV.
Unrealized gains or losses arising due to
2 CONSOLIDATE
to “Revenue & Other Reserves (Schedule 2)” exceeds the sanctioned limit/drawing power
and “Liabilities relating to Policyholders in continuously for a period of 90 days, or if there
Insurance Business (Schedule 5)” respectively, are no credits continuously for 90 days as on
in the Balance Sheet. the date of balance-sheet, or if the credits are
not adequate to cover the interest debited
(ii) Valuation of investment pertaining to linked
during the same period;
business: -
◆ Debt Securities including Government
securities with remaining maturity of more
than one year are valued at prices obtained
from CRISIL. Debt securities including
Government securities with remaining maturity
of less than one year are valued on yield to
maturity basis, where yield is derived using
market price provided by CRISIL on the day
when security is classified as short term. If
security is purchased during its short term
tenor, it is valued at amortised cost using
yield to maturity method. In case of securities
with options, earliest Call Option/Put Option
date will be taken as maturity date for this
purpose. Money market securities are valued at
historical cost subject to amortization of
premium or accretion of discount on yield to
maturity basis.
◆ Listed equity shares, equity related
measured at fair value on the Balance Sheet
date. For the purpose of determining fair value,
the closing price at primary exchange
i.e. NSE is considered. If NSE closing price is
not available, closing price of the BSE is
considered.
◆ Unlisted equity shares, equity related
measured at historical cost.
◆ In case of Security Lending and Borrowing
(SLB), equity shares lent are valued as per
valuation policy for equity shares as mentioned
above.
◆ Additional Tier 1 (Basel III compliant) Perpetual
Bonds classified under “Equity” as specified by
IRDAI, are valued at prices obtained from
CRISIL.
◆ Investments in mutual fund units are valued at
the previous day’s Net Asset Value (NAV).
◆ Unrealized gains or losses arising due to
changes in the fair value are recognized in the
Profit & Loss Account.
3. Loans /Advances and Provisions thereon:
3.1 Loans and Advances are classified as
performing and non-performing, based on the
guidelines/directives issued by the RBI. Loan
Assets become Non- Performing Assets (NPAs)
where:
i. In respect of term loans, interest and/or
instalment of principal remains overdue
for a period of more than 90 days;
ii. In respect of Overdraft or Cash Credit
advances, the account remains “out of
order”, i.e. if the outstanding balance
CONSOLIDATE 2
iii. In respect of bills provisions are made in accordance with the

purchased/discounted, the bill guidelines issued by the RBI, which require
remains overdue for a period of that the difference between the fair value of
more than 90 days; the loan/advances before and after
restructuring is provided for, in addition to
iv. In respect of agricultural advances
provision for the respective loans/advances.
(a) for short duration crops, where
The Provision for
the instalment of principal or interest
remains overdue for two crop
seasons; and (b) for long duration
crops, where the principal or interest
remains overdue for one crop
season.
3.2 NPAs are classified into Sub-Standard,
Doubtful and Loss Assets, based on the
following criteria stipulated by RBI:
i. Sub-standard: A loan asset that has
remained non-performing for a
period less than or equal to 12
months.
ii. Doubtful: A loan asset that has
remained in the sub-standard
category for a period of 12 months.
iii. Loss: A loan asset where loss has
been identified but the amount has
not been fully written off.
3.3 Provisions are made for NPAs as per the
extant guidelines prescribed by the
regulatory authorities, subject to
minimum provisions as prescribed below:
Substandard Assets:
i. A general provision of 15% on the
total outstanding;
ii. Additional provision of 10% for
exposures which are unsecured ab-
initio (i.e. where realisable value of
security is not more than 10 percent
ab- initio);
iii. Unsecured Exposure in respect of
infrastructure advances where
certain safeguards such as escrow
accounts are available – 20%.
Doubtful Assets:
-Secured portion:
i. Upto one year – 25%
ii. One to three years – 40%
iii. More than three years – 100%
-Unsecured portion 100%
Loss Assets: 100%
3.4 In respect of foreign offices/entities, the
classification of loans and advances and
provisions for NPAs are made as per the
local regulations or as per the norms of
RBI, whichever is more stringent.
3.5 Advances are net of specific loan loss
provisions, unrealised interest, ECGC
claims received and bills rediscounted.
3.6 For restructured/rescheduled assets,
2 CONSOLIDATE
Diminution in Fair Value (DFV) and interest rate swaps and forward rate agreements in
sacrifice, if any, arising out of the above, is order to hedge on-balance sheet/
reduced from advances.
3.7 In the case of loan accounts classified as NPAs,
an account may be reclassified as a
performing asset if it conforms to the
guidelines prescribed by the regulators.
3.8 Amounts recovered against debts written off
in earlier years are recognised as revenue in
the year of recovery.
3.9 In addition to the specific provision on NPAs,
general provisions are also made for standard
assets as per extant RBI Guidelines. These
provisions are reflected in Schedule 5 of the
Balance Sheet under the head “Other Liabilities
& Provisions – Others” and are not considered
for arriving at the Net NPAs.
3.10 Appropriation of recoveries in NPAs (not out of
fresh/ additional credit facilities sanctioned to
the borrower concerned) towards principal or
interest due as per the Bank’s extant
instructions is done in accordance with the
following priority.
a. Charges
b. Unrealized Interest/Interest
c. Principal
4. Floating Provisions:
The Bank has a policy for creation and
utilisation of floating provisions separately for
advances, investments and general purposes.
The quantum of floating provisions to be
created is assessed at the end of the financial
year. The floating provisions are utilised only
for contingencies under extra ordinary
circumstances specified in the policy with prior
permission of Reserve Bank of India.
5. Provision for Country Exposure for Banking

Entities:
In addition to the specific provisions held
according to the asset classification status,
provisions are also made for individual country
exposures (other than the home country).
Countries are categorised into seven risk
categories, namely, insignificant, low,
moderate, high, very high, restricted and off-
credit and provisioning made as per extant
RBI guidelines. If the country exposure (net) of
the Bank in respect of each country does not
exceed 1% of the total funded assets, no
provision is maintained on such country
exposures. The provision is reflected in
Schedule 5 of the Balance Sheet under the
“Other liabilities & Provisions – Others”.
6. Derivatives:
6.1 The Bank enters into derivative contracts, such
as foreign currency options, interest rate
swaps, currency swaps, cross currency interest
CONSOLIDATE 2
off-balance sheet assets and liabilities or for

trading purposes. The swap contracts entered to
hedge on- balance sheet assets and liabilities are
structured in such a way that they bear an
opposite and offsetting impact with the
underlying on-balance sheet items. The impact
of such derivative instruments is correlated with
the movement of the underlying assets and
accounted in accordance with the principles of
hedge accounting.
6.2 Derivative contracts classified as hedge are
recorded on accrual basis. Hedge contracts are
not marked to market unless the underlying
assets / liabilities are also marked to market.
6.3 Except as mentioned above, all other derivative

contracts are marked to market as per the
Generally Accepted Accounting Practices
prevalent in the industry. In respect of derivative
contracts that are marked to market, changes in
the market value are recognised in the Profit and
Loss Account in the period of change. Any
receivable under derivatives contracts, which
remain overdue for more than 90 days, are
reversed through Profit and Loss Account to
“Suspense Account - Crystallised Receivables”.
In cases where the derivative contracts provide
for more settlement in future and if the
derivative contract is not terminated on the
overdue receivables remaining unpaid for 90
days, the positive MTM pertaining to future
receivables is also reversed from Profit and Loss
Account to “Suspense Account - Positive MTM”.
6.4 Option premium paid or received is recorded in
Profit and Loss Account at the expiry of the
option. The balance in the premium received on
options sold and premium paid on options
bought is considered to arrive at Mark to Market
value for forex Over the Counter (OTC) options.
6.5 Exchange Traded Derivatives entered into for
trading purposes are valued at prevailing market
rates based on rates given by the Exchange and
the resultant gains and losses are recognized in
the Profit and Loss Account.
7. Fixed Assets Depreciation and Amortisation:

7.1 Fixed Assets are carried at cost less
accumulated depreciation/ amortisation.
7.2 Cost includes cost of purchase and all
expenditure such as site preparation, installation
costs and professional fees incurred on the
asset before it is put to use. Subsequent
expenditure(s) incurred on the assets put to use
are capitalised only when it increases the future
benefits from such assets or their functioning
capability.
7.3 The rates of depreciation and method of
charging depreciation in respect of domestic
operations are as under:
2 CONSOLIDATE
Sr. Description of Fixed Method of Depreciation/ amortisation 7.10 The increase in Net Book Value of the asset due
No. Assets charging rate to revaluation is credited to the Revaluation
depreciation Reserve Account without routing through the
profit and loss
1 Computers Straight 33.33% every statement.
Line year 7.11 The Revalued Assets is depreciated over the balance
Method
2 Computer Software Straight 33.33% every useful life of the asset as assessed at the time
forming an integral Line year of revaluation.
part of the Computer Method
hardware 8. Leases:
3 Computer Software Straight 33.33% every
which does not form Line year The asset classification and provisioning norms
an integral part of Method applicable to advances, as laid down in Para 3
Computer hardware above, are applied to financial leases also.
and cost of Software
Development 9. Impairment of Assets:
4 Automated Teller Straight 20.00% every Fixed Assets are reviewed for impairment
Machine/ Cash Deposit Line year
whenever events or changes in circumstances
Machine/Coin Method warrant that the
Dispenser / Coin
Vending Machine
5 Servers Straight 25.00% every year carrying amount of an asset may not be
Line recoverable. Recoverability of assets to be held
Method 20.00% every year and used is measured by a comparison of
6 Network Equipment Straight the carrying amount of an asset to future Net
Line On the basis of estimated Discounted Cash Flows expected to be
Method useful life of the assets. generated by the asset. If such assets are
7 Other fixed assets Straight Estimated useful life of considered to be impaired, the impairment to
Line major group of Fixed be recognised is measured by the amount by
Method Assets are as under: which the carrying amount of the asset
Premises 60 Years exceeds the fair value of the asset.
Vehicles 05
10. Effect of changes in the foreign exchange rate:
Years Safe Deposit
Lockers 20 10.1 Foreign Currency Transactions
Furniture & i. Foreign currency transactions are
10 Years
reporting currency
Fixtures 7.9 The Bank considers only immovable assets
for revaluation. Properties acquired during
7.4 In respect of assets acquired during the year the last three years are not revalued.
for domestic operations, depreciation is Valuation of the revalued assets is done at
charged on proportionate basis for the number every three years thereafter.
of days assets have been put to use during the
year.
7.5 Assets costing less than ` 1,000 each are
charged off in the year of purchase.
7.6 In respect of leasehold premises, the lease
premium, if any, is amortised over the period
of lease and the lease rent is charged in the
respective year (s).
7.7 In respect of assets given on lease by the Bank
on or before 31st March 2001, the value of the
assets given on lease is disclosed as Leased
Assets under Fixed Assets, and the difference
between the annual lease charge (capital
recovery) and the depreciation is taken to
Lease Equalisation Account.
7.8 In respect of fixed assets held at foreign
offices/ entities, depreciation is provided as per
the regulations
/norms of the respective countries.
CONSOLIDATE 2
by applying to the foreign currency amount

the exchange rate between the reporting
currency and the foreign currency on the date
of transaction.
ii. Foreign currency monetary items are reported
using the Foreign Exchange Dealers
Association of India (FEDAI) closing
(spot/forward) rates.
iii. Foreign currency non-monetary items, which
are carried at historical cost, are reported
using the exchange rate on the date of the
transaction.
iv. Contingent liabilities denominated in foreign
currency are reported using the FEDAI closing
spot rates.
v. Outstanding foreign exchange spot and
forward contracts held for trading are revalued
at the exchange rates notified by FEDAI for
specified maturities, and the resulting Profit or
Loss is recognised in the Profit and Loss
account.
vi. Foreign exchange forward contracts which are
not intended for trading and are
outstanding on the Balance Sheet date, are
re-valued at the closing spot rate. The
premium or discount arising at the inception of
such a forward exchange contract is amortised
as expense or income over the life of the
contract.
2 CONSOLIDATE
vii. Exchange differences arising on the reported using the exchange rate on the
settlement of monetary items at rates date of the transaction.
different from those at which they were
initially recorded are recognised as income
or as expense in the period in which they
arise.
viii. Gains/Losses on account of changes in
exchange rates of open position in
currency futures trades are settled with
the exchange clearing house on daily
basis and such gains/losses are recognised
in the Profit and Loss Account.
10.2 Foreign Operations:

Foreign Branches/Subsidiaries/Joint Ventures
of the Bank and Offshore Banking Units (OBU)
have been classified as Non-integral
Operations and Representative Offices have
been classified as Integral Operations.
a. Non-integral Operations:
i. Both monetary and non-monetary foreign
currency assets and liabilities including
contingent liabilities of non-integral
foreign operations are translated at
closing exchange rates notified by FEDAI
at the Balance Sheet date.
ii. Income and expenditure of non-integral
foreign operations are translated at
quarterly average closing rates notified by
FEDAI.
iii. Exchange differences arising on
investment in non-integral foreign
operations are accumulated in Foreign
Currency Translation Reserve until the
disposal of the investment.
iv. The Assets and Liabilities of foreign
offices/ subsidiaries /joint ventures in
foreign currency (other than local currency
of the foreign offices/ subsidiaries/joint
ventures) are translated into local
currency using spot rates applicable to
that country on the Balance Sheet date.
b. Integral Operations:
reporting currency by applying to the
foreign currency amount the exchange
rate between the reporting currency and
the foreign currency on the date of
transaction.
ii. Monetary foreign currency assets and
liabilities of integral foreign operations are
translated at closing (Spot/Forward)
exchange rates notified by FEDAI at the
Balance Sheet date and the resulting
Profit/Loss is included in the Profit and
Loss Account. Contingent Liabilities are
translated at Spot rate.
iii. Foreign currency non-monetary items
which are carried at historical cost are
CONSOLIDATE 2
11. Employee Benefits: salary in terms of SBI Pension Fund

Rules. The pension liability is reckoned
11.1 Short Term Employee Benefits:
based on an independent actuarial
The undiscounted amounts of short-term valuation carried out annually and SBI
employee benefits, such as medical benefits, makes
which are expected to be paid in exchange for
the services rendered by employees are
recognised during the period when the employee
renders the service.
11.2 Long Term Employee Benefits:
i. Defined Benefit Plan
a. SBI operates a Provident Fund scheme. All
eligible employees are entitled to receive
benefits under the Provident Fund scheme.
SBI contributes monthly at a determined
rate (currently 10% of employee’s basic pay
plus eligible allowance). These contributions
are remitted to a Trust established for this
purpose and are charged to Profit and Loss
Account. SBI recognizes such annual
contributions as an expense in the year to
which it relates. Shortfall, if any, is provided
for on the basis of actuarial valuation.
SBI Life Insurance Company Limited makes
contribution towards provident fund, a
defined benefit retirement plan. The
provident fund is administered by the
trustees of the SBI Life Insurance Company
Limited Employees PF Trust. The
contribution paid or payable under the
schemes is charged to the Profit and
Loss Account during the period in which the
employee renders the related service.
Further, an actuarial valuation is conducted
annually by an independent actuary to
recognise the deficiency, if any, in the
interest payable on the contributions as
compared to the interest liability as per the
statutory rate.
b. The group entities operate separate
Gratuity schemes, which are defined benefit
plans. The group entities provide for
gratuity to all eligible employees. The
benefit is in the form of lump sum payments
to vested employees on retirement or on
death while in employment, or on
termination of employment, for an amount
equivalent to 15 days basic salary payable
for each completed year of service, subject
to the cap prescribed by the Statutory
Authorities. Vesting occurs upon completion
of five years of service. SBI makes periodic
contributions to a fund administered by
Trustees based on an independent external
actuarial valuation carried out annually.
c. SBI provides for pension to all eligible
employees. The benefit is in the form of
monthly payments as per rules to vested
employees on retirement or on death while
in employment, or on termination of
employment. Vesting occurs at different
stages as per rules. SBI makes monthly
contribution to the Pension Fund at 10% of
2 CONSOLIDATE
such additional contributions periodically offices/entities, which are based on the tax laws of
to the Fund as may be required to secure respective jurisdiction. Deferred Tax adjustments
payment of the benefits under the pension comprises of changes in the deferred tax assets or
regulations. liabilities during the year. Deferred tax assets and
liabilities are recognised by considering the impact
d. The cost of providing defined benefits is
of timing differences between
determined using the projected unit credit
method, with actuarial valuations being
carried out at each balance sheet date.
Actuarial gains/ losses are immediately
recognised in the Profit and Loss and are
not deferred.
ii. Defined Contribution Plans:
SBI operates a New Pension Scheme (NPS) for
all officers/ employees joining SBI on or after 1st
August, 2010, which is a defined contribution
plan, such new joinees not being entitled to
become members of the existing SBI Pension
Scheme. As per the scheme, the covered
employees contribute 10% of their basic pay
plus dearness allowance to the scheme
together with a matching contribution from SBI.
Pending completion of registration procedures
of the employees concerned, these
contributions are retained as deposits in SBI
and earn interest at the same rate as that of
the current account of Provident Fund balance.
SBI recognizes such annual contributions and
interest as an expense in the year to which
they relate. Upon receipt of the Permanent
Retirement Account Number (PRAN), the
consolidated contribution amounts are
transferred to the NPS Trust.
iii. Other Long Term Employee benefits:
a. All eligible employees of the Group are
eligible for compensated absences, silver
jubilee award, leave travel concession,
retirement award and resettlement
allowance. The costs of such long term
employee benefits are internally funded by
the group entities.
The cost of providing other long term
benefits is determined using the projected
unit credit method with actuarial
valuations being carried out at each
Balance Sheet date. Past service cost is
immediately recognised in the Profit and
Loss and is not deferred.
11.3 Employee benefits relating to employees
employed at foreign offices/ entities are valued
and accounted for as per the respective local
laws/regulations.
12. Taxes on income
Income tax expense is the aggregate amount
of current tax, deferred tax and fringe benefit
tax expense incurred by the Group. The current
tax expense and deferred tax expense are
determined in accordance with the provisions
of the Income Tax Act, 1961 and as per
Accounting Standard 22 – “Accounting for
Taxes on Income” respectively after taking into
account taxes paid at the foreign
CONSOLIDATE 2
taxable income and accounting income from past events and the existence of
for the current year, and carry forward which will be confirmed only by the
losses. occurrence or non- occurrence of one or
more uncertain future events not wholly
Deferred tax assets and liabilities are
within the control of the group entities; or
measured using tax rates and tax laws
that have been enacted or ii. any present obligation that arises from
substantively enacted at the balance past events but is not recognised because
sheet date. The impact of changes in
deferred tax assets and liabilities is
recognised in the profit and loss account.
Deferred tax assets are recognised and
re-assessed at each reporting date,
based upon management’s judgement as
to whether their realisation is considered
as reasonably certain. Deferred Tax
Assets are recognised on carry forward of
unabsorbed depreciation and tax losses
only if there is virtual certainty supported
by convincing evidence that such
deferred tax assets can be realised
against future profits.
In Consolidated Financial Statement,
income tax expenses are the aggregate
of the amounts of tax expense appearing
in the separate financial statements of
the parent and its subsidiaries/joint
ventures, as per their applicable laws.
13. Earnings per Share:
13.1 The Bank reports basic and diluted
earnings per share in accordance with AS
20 –“Earnings per Share” issued by the
ICAI. Basic Earnings per Share are
computed by dividing the Net Profit after
Tax for the year attributable to equity
shareholders (other than minority) by the
weighted average number of equity
shares outstanding for the year.
13.2 Diluted Earnings per Share reflect the
potential dilution that could occur if
securities or other contracts to issue
equity shares were exercised or
converted during the year. Diluted
Earnings per Share are computed using
the weighted average number of equity
shares and dilutive potential equity
shares outstanding at year end.
14. Provisions, Contingent Liabilities and
Contingent Assets:
14.1 In conformity with AS 29, “Provisions,
Contingent Liabilities and Contingent
Assets”, issued by the Institute of
Chartered Accountants of India, the
Group recognises provisions only when it
has a present obligation as a result of a
past event and would result in a
probable outflow of resources embodying
economic benefits will be required to
settle the obligation, and when a reliable
estimate of the amount of the obligation
can be made.
14.2 No provision is recognised for
i. any possible obligation that arises
2 CONSOLIDATE
a. it is not probable that an outflow of

resources embodying economic benefits treated as deposits/advances as the case may
will be required to settle the obligation; or be with the interest paid/received classified as
interest expense/income. Gold Deposits, Metal
b. a reliable estimate of the amount of Loan Advances and closing Gold Balances are
obligation cannot be made. valued at available Market Rate as on the date
Such obligations are recorded as of Balance Sheet
Contingent Liabilities. 16. Special Reserves:
These are assessed at regular intervals Revenue and other Reserve include Special
and only that part of the obligation for Reserve created under Section 36(i)(viii) of the
which an outflow of resources embodying Income Tax Act, 1961. The Board of Directors
economic benefits is probable, is provided have passed a resolution approving creation of
for, except in the extremely rare the reserve and confirming that it has no
circumstances where no reliable estimate intention to make withdrawal from the Special
can be made. Reserve.
14.3 Provision for reward points in relation to the 17. Share Issue Expenses:
debit card holders of SBI is being provided for
on actuarial estimates. Share issue expenses are charged to the Share
Premium Account.
14.4 Contingent Assets are not recognised in the
financial statements.
15. Bullion Transactions: Schedule 18
SBI imports bullion including precious metal NOTES TO ACCOUNTS
bars on a consignment basis for selling to its
1. List of Subsidiaries/Joint Ventures/Associates
customers. The imports are typically on a back-
considered for preparation of consolidated financial
to-back basis and are priced to the customer statements:
based on price quoted by the supplier. SBI
earns a fee on such bullion transactions. The 1.1 The 29 Subsidiaries, 8 Joint Ventures and 20
fee is classified under commission income. Associates including 18 Regional Rural Banks
SBI also accepts deposits and lends gold, from/upto respective dates of merger/exit during the
which is year (which along with State Bank of India, the
parent, constitute the Group), considered in the
preparation of the consolidated financial statements,
are
A) Subsidiaries:
Sr. Name of the Subsidiary Group’s Stake (%)

No. Country of Current Previous
Incorporation Year Year
1) SBI Capital Markets Ltd. India 100.00 100.00
2) SBICAP Securities Ltd. India 100.00 100.00
3) SBICAP Trustee Company Ltd. India 100.00 100.00
4) SBICAP Ventures Ltd. India 100.00 100.00
5) SBICAP (Singapore) Ltd. Singapore 100.00 100.00
6) SBICAP (UK) Ltd. U.K. 100.00 100.00
7) SBI DFHI Ltd. India 72.17 72.17
8) SBI Global Factors Ltd. India 86.18 86.18
9) SBI Infra Management Solutions Pvt. Ltd. India 100.00 100.00
10) SBI Mutual Fund Trustee Company Pvt Ltd. India 100.00 100.00
11) SBI Payment Services Pvt. Ltd.@ India 74.00 100.00
12) SBI Pension Funds Pvt Ltd. India 92.60 92.60
13) SBI Life Insurance Company Ltd. India 62.10 62.10
14) SBI General Insurance Company Ltd. @ India 70.00 74.00
15) SBI Cards and Payment Services Pvt. Ltd. @ India 74.00 74.00
16) SBI Business Process Management Services Pvt Ltd.@ India 74.00 74.00
CONSOLIDATE 2
Sr. Name of the Subsidiary Group’s Stake (%)

17) SBI–SG Global Securities Services Pvt. Ltd. @ India 65.00 65.00
18) SBI Funds Management Pvt. Ltd. @ India 63.00 63.00
19) SBI Funds Management (International) Private Ltd. @ Mauritius 63.00 63.00
20) Commercial Indo Bank Llc , Moscow @ Russia 60.00 60.00
21) Bank SBI Botswana Limited Botswana 100.00 100.00
22) SBI Canada Bank Canada 100.00 100.00
23) State Bank of India (California) USA 100.00 100.00
24) State Bank of India (UK) Limited UK 100.00 -
25) State Bank of India Servicos Limitada Brazil 100.00 100.00
26) SBI (Mauritius) Ltd. Mauritius 96.60 96.60
27) PT Bank SBI Indonesia Indonesia 99.00 99.00
28) Nepal SBI Bank Ltd. Nepal 55.00 55.00
29) Nepal SBI Merchant Banking Limited Nepal 55.00 55.00
@ Represents companies which are jointly controlled entities in terms of the shareholders’ agreement. However, the
same are consolidated as subsidiaries in accordance with AS 21 “Consolidated Financial Statements” as SBI’s
holding in these companies exceeds 50%.
B) Joint Ventures:
Sr. Name of the Joint Venture Group’s Stake (%)
1) C - Edge Technologies Ltd. India 49.00 49.00
2) SBI Macquarie Infrastructure Management Pvt. Ltd. India 45.00 45.00
3) SBI Macquarie Infrastructure Trustee Pvt. Ltd. India 45.00 45.00
4) Macquarie SBI Infrastructure Management Pte. Ltd. Singapore 45.00 45.00
5) Macquarie SBI Infrastructure Trustee Ltd. Bermuda 45.00 45.00
6) Oman India Joint Investment Fund – Management Company Pvt. Ltd. India 50.00 50.00
7) Oman India Joint Investment Fund – Trustee Company Pvt. Ltd. India 50.00 50.00
8) Jio Payments Bank Ltd. India 30.00 30.00
C) Associates:
Sr. Name of the Associate Group’s Stake (%)
1) Andhra Pradesh Grameena Vikas Bank India 35.00 35.00
2) Arunachal Pradesh Rural Bank India 35.00 35.00
3) Chhattisgarh Rajya Gramin Bank India 35.00 35.00
4) Ellaquai Dehati Bank India 35.00 35.00
5) Langpi Dehangi Rural Bank India 35.00 35.00
6) Madhyanchal Gramin Bank India 35.00 35.00
7) Meghalaya Rural Bank India 35.00 35.00
8) Mizoram Rural Bank India 35.00 35.00
9) Nagaland Rural Bank India 35.00 35.00
10) Purvanchal Bank India 35.00 35.00
2 CONSOLIDATE
Sr. Name of the Associate Group’s Stake (%)

11) Saurashtra Gramin Bank India 35.00 35.00
12) Utkal Grameen Bank India 35.00 35.00
13) Uttarakhand Gramin Bank India 35.00 35.00
14) Vananchal Gramin Bank India 35.00 35.00
15) Rajasthan Marudhara Gramin Bank India 35.00 35.00
16) Telangana Grameena Bank India 35.00 35.00
17) Kaveri Grameena Bank India 35.00 35.00
18) Malwa Gramin Bank (upto 31.12.2018) India 35.00 35.00
19) The Clearing Corporation of India Ltd. India 20.05 20.05
20) Bank of Bhutan Ltd. Bhutan 20.00 20.00
a) In the month of April 2018, State Bank of

Payments Service Private Limited.
India (UK) Limited (a wholly owned
Resultantly, the stake of SBI Group in
subsidiary) has commenced its operation.
SBIPSPL has reduced from 100% to
SBI has infused GBP
74.00%.
17.50 crore equivalent to ` 1,604.43 crore
as paid up capital in State Bank of India e) In the month of September 2018, SBI sold
(UK) Limited. its 4.00% stake in SBI General Insurance
Company Limited (a subsidiary). The
b) In the month of May 2018, SBI has
stake of SBI group in SBI General
infused
Insurance Company Limited has reduced
` 30 crore in Jio Payments Bank Limited (a
from 74.00% to 70.00%.
joint venture). The SBI Group’s stake in Jio
Payments Bank Limited remains the same. f) In the month of December 2018, SBI has
infused
c) In the month of August 2018, SBI has
` 30 crore in SBI Infra Management
infused
Solutions Private Limited. The SBI Group’s
` 347.80 crore in SBI Cards and Payment
stake in SBI Infra Management Solutions
Services Private Limited (a subsidiary).
Private Limited remains the same.
The SBI Group’s stake in SBI Cards &
Payment Services Private Limited remains g) In the month of February 2019, SBI Capital
the same. Markets Limited (a subsidiary) has infused
` 10.70 crore in SBICAP Ventures Limited
d) In the month of August 2018, SBI has
infused (a subsidiary). The SBI Group’s stake in
` 2.50 crore in SBI Payment Services SBICAP Ventures Limited remains the
Private Limited (SBIPSPL) (a subsidiary). same.
SBI has transferred its merchant acquiring h) During the year, SBI has infused additional
business (MAB) to SBIPSPL pursuant to a capital in the following Regional Rural
business transfer agreement dated Bank (RRBs) sponsored by it :-
September 29, 2018 for a consideration of
` 1,250 crore which has been since
realized by SBI.
In the month of January 2019, SBIPSPL
issued 15,81,082 equity shares of face
value of ` 10 each at a price of ` 9,819.86
per share including the share premium of `
9,809.86 per share to Hitachi
Regional Rural Banks Amount

Utkal Grameena Bank 63.14
Madhyanchal Gramin Bank 57.63
Rajasthan Marudhara Gramin Bank 7.28
Nagaland Rural Bank 0.65
TOTAL 128.70
CONSOLIDATE 2
The SBI Group’s stakes remains the same after the aforesaid capital infusion.
i) In accordance with notification issued by Govt. of India, the following amalgamations have taken place
in between the Regional Rural Banks (RRBs) sponsored by SBI and RRBs sponsored by other banks :
The details of amalgamation of RRBs, where the transferee RRBs are not sponsored by SBI are as below:-
Name of transferor RRBs Sponsor Bank New Name Sponsor Bank Effective
of transferor after of transferee Date of
RRBs Amalgamation RRBs Amalgamation
of RRBs
1. Punjab Gramin Bank Punjab National
Bank
Malwa Gramin Bank State Bank of Punjab Gramin Punjab 1st January
India Bank National ,2019
Bank
Sutlej Gramin Bank Punjab & Sind
Bank
2 Pragathi Krishna Gramin Bank Canara

Bank Karnatak
Canara Bank 1st April ,2019
a Gramin
Kaveri Grameena Bank State Bank
Bank
of
Indi
a
3 Assam Gramin Vikash Bank United Bank of

India Assam Gramin
Vikash Bank United Bank
Indiaof 1st April ,2019
Langpi Dehangi Rural Bank State Bank
of
Indi
a
The details of amalgamation of RRBs, where the transferee RRB is sponsored by SBI are as below:-
1 Jharkhand Gramin Bank Bank of India

State Bank of
Jharkhand
Vananchal Gramin Bank State Bank Rajya Gramin 1st April ,2019
of Bank India
Indi
a
j) SBI Home Finance Ltd., an associate in include unaudited financial statements of one
which SBI is having 25.05% stake, is under subsidiary (SBI Canada Bank) & three associates
liquidation and therefore, not being (including Bank of Bhutan Ltd. and two Regional
considered for consolidation in preparation Rural Banks), the results of which are not
of Consolidated Financial Statements as material.
per Accounting Standard 21.
k) As SBI Foundation is a Not-for-Profit
Company [incorporated under section 7(2)
of Companies Act, 2013], SBI Foundation
is not being considered for consolidation
in preparation of Consolidated Financial
statements as per Accounting Standard
21.
1.2 The consolidated financial statements for
the financial year 2018-19 of the Group
2 CONSOLIDATE
2. Share capital:
a) SBI received application money of ` 0.38
crore including share premium of `
0.38 crore by way of the issue of
24,000 equity shares of ` 1 each kept in
abeyance due to various title disputes or
third party claims out of the Right Issue
closed on 18.03.2008. The equity shares
kept in abeyance were allotted on
31.01.2019.
b) Expenses in relation to the issue of
shares: ` 9.12 crore (Previous Year `
17.60 crore) is debited to Share
Premium Account.
CONSOLIDATE 2
3. Disclosures as per Accounting Standards

3.1 Accounting Standard- 15 “Employee Benefits”:
3.1.1 Defined Benefit Plans
3.1.1.1 Employee’s Pension Plans and Gratuity Plans
The following table sets out the status of the Defined Benefit Pension Plans and Gratuity Plan as required under AS 15 (Revised
2005) :-
` in crore
Particulars Pension Plans Gratuity Plans
Opening defined benefit obligation at 1st April 2018 87,786.56 83,870.13 13,025.81 9,929.61
Adjustment for SBI Business Process Management Pvt - - - 8.70
Ltd.*
Interest Cost 6,812.24 6,248.32 1,012.43 722.05
Past Service Cost (Vested Benefit) - - - 3,614.64
Liability transferred In/ Acquisitions - - - 1.20
Actuarial losses /(gains) 6,434.95 3,338.70 (89.76) (9.83)
Benefits paid (3,966.53) (4,190.43) (2,000.50) (1,543.31)
Direct Payment by SBI (2,765.64) (2,458.35) - -
Closing defined benefit obligation at 31st March 2019 95,362.15 87,786.56 12,378.30 13,025.81
Opening fair value of plan assets at 1st April 2018 85,249.60 79,303.20 9,263.16 9,863.77
Ltd. *
Expected Return on Plan assets 6,615.37 5,908.09 721.37 717.37
Contributions by employer 2,391.18 4,363.81 2,404.93 243.49
Assets transferred In/Acquisitions - - - 2.01
Expected Contribution by the employees 0.34 - - -
Benefits Paid (3,966.53) (4,190.43) (2,000.50) (1,543.32)
Actuarial Gains / (Losses) on plan assets 109.65 (135.07) 104.50 (26.37)
Closing fair value of plan assets at 31st March 2019 90,399.61 85,249.60 10,493.46 9,263.16
Reconciliation of present value of the obligation and
fair value of the plan assets
Present Value of funded obligation at 31st March 2019 95,362.15 87,786.56 12,378.30 13,025.81
Fair Value of plan assets at 31st March 2019 90,399.61 85,249.60 10,493.46 9,263.16
Deficit/(Surplus) 4,962.54 2,536.96 1,884.84 3,762.65
Unrecognised Past Service Cost (Vested) Closing Balance - - - (2,707.50)
Net Liability/(Asset ) 4,962.54 2,536.96 1,884.84 1,055.15
Amount Recognised in the Balance Sheet
Liabilities 95,362.15 87,786.56 12,378.30 13,025.81
Assets 90,399.61 85,249.60 10,493.46 9,263.16
Net Liability / (Asset) recognised in Balance Sheet 4,962.54 2,536.96 1,884.84 3,762.64
Unrecognised Past Service Cost (Vested) Closing Balance - - - (2,707.50)
Net Liability/ (Asset) 4,962.54 2,536.96 1,884.84 1,055.15
2 CONSOLIDATE
` in crore
Particulars Pension Plans Gratuity Plans
Interest Cost 6,812.24 6,248.32 1,012.43 722.05
Expected return on plan assets (6,615.37) (5,908.09) (721.37) (717.37)
Expected Contributions by the employees (0.34) - - -
Past Service Cost (Amortised) Recognised - - - 0.05
Past Service Cost (Vested Benefits) Recognised - - 2,707.50 907.09
Net Actuarial Losses / (Gains) recognised during the year 6,325.30 3,473.77 (194.26) 16.54
Total costs of defined benefit plans included in Schedule 7,582.40 4,792.19 3,234.62 1,231.11
16 “Payments to and provisions for employees”
Reconciliation of expected return and actual return on Plan
Assets
Actuarial Gains/ (Losses) on Plan Assets 109.65 (135.07) 104.50 (26.37)
Actual Return on Plan Assets 6,725.02 5773.02 825.87 691.00
Reconciliation of opening and closing net
liability/(asset) recognised in Balance Sheet
Opening Net Liability/(Asset) as at 1st April 2018 2,536.96 4,566.93 1,055.15 65.84
Ltd.*
Expenses as recognised in profit and loss account 7,582.40 4,792.19 3,234.62 1231.11
Paid by SBI Directly (2,765.64) (2,458.35) - -
Debited to Other Provision - - - -
Recognised in Reserve - - - -
Net Liability/ (Asset) transferred in - - - (0.81)
Employer’s Contribution (2,391.18) (4,363.81) (2,404.93) (243.49)
Net liability/(Asset) recognised in Balance Sheet 4,962.54 2,536.96 1,884.84 1,055.15
* Adjustment is due to change in method of consolidation in case of SBI Business Process Management Services Pvt
Ltd from Proportionate line-by-line consolidation to Total line-by-line consolidation
Investments under Plan Assets of Gratuity Fund & Pension Fund as on March 31, 2019 are as follows:
Category of Assets Pension Fund Gratuity Fund

% of Plan Assets % of Plan Assets
Central Govt. Securities 23.69% 18.49%
State Govt. Securities 31.40% 33.42%
Debt Securities, Money Market Securities and Bank Deposits 31.93% 22.92%
Mutual Funds 2.39% 4.02%
Insurer Managed Funds 2.63% 16.71%
Others 7.96% 4.44%
TOTAL 100.00% 100.00%
CONSOLIDATE 2
Principal actuarial assumptions:

Particulars Pension Plans

Pension Escalation Rate 0.40% -
Particulars Gratuity Plans


In case of SBI, as the plan assets are marked to market

on the basis of the yield curve derived from government ` in crore
securities, the expected rate of return has been kept the Particulars Provident Fund
same as the discount rate.
The estimates of future salary growth, factored in

actuarial valuation, take account of inflation, seniority,
promotion and other relevant factors such as supply and Current Year Previous Year
demand in the employment market. Such estimates are Employee Contribution 1377.59 1,396.25
very long term and are not based on limited past (including VPF)
experience / immediate future. Empirical evidence also
Liability Transferred In - 3,309.05
suggests that in the very long term, consistent high
salary growth rates are not possible. The said estimates Actuarial losses/(gains) - 25.56
and assumptions have been relied upon by the auditors. Benefits paid (4220.11) (4,070.79)
Closing defined benefit 30,928.72 30,298.66
With a view to further strengthen the Pension Fund, it obligation at 31st March
was decided to upwardly revise some of the 2019
assumptions.
Opening fair value of 31,874.25 27,221.93
3.1.1.2Employees Provident Fund
Plan Assets as at 1st
Actuarial valuation carried out in respect of April 2018
interest shortfall in Provident Fund Trust shows Expected Return on 2,507.55 2,455.58
“Nil” liability, hence no provision is made in Plan Assets
F.Y. 2018-19.
Contributions 2,342.63 2,357.90
The following table sets out the status of Transferred from - 3,723.65
Provident Fund as per the actuarial valuation other Companies
by the independent Actuaries:-
Benefits Paid (4220.11) (4,070.79)
` in crore
Actuarial Gains / (Loss) on 126.22 185.98
plan Assets
Particulars Provident Fund
Closing fair value of plan 32,630.54 31,874.25
assets as at 31st March
Change in the present value 2019
of the defined benefit
obligation Reconciliation of present
value of the obligation and
Opening defined benefit 30,298.65 26,221.36 fair value of the plan
obligation at 1st April 2018 assets
Current Service Cost 965.04 961.65 Present Value of Funded 30,928.72 30,298.66
Interest Cost 2507.55 2,455.58 obligation at 31st March
2019
2 CONSOLIDATE
` in crore (a) one half percent above the average standard

rate (adjusted up or down to the interest one
Particulars Provident Fund quarter per cent) quoted by SBI for new
Current Year Previous Year deposits fixed for twelve months in the
Net Asset not recognised in 1,701.82 1,575.59 preceding year (ending on the preceding the
Balance Sheet 31st day of March); or
(b) three percent per annum, subject to approval
Net Cost recognised in the of Executive Committee.
profit and loss account ii) The rules of the SBI Life Insurance Company Ltd.’s
Current Service Cost 965.04 961.65 Provident Fund administered by a Trust require that
Interest Cost 2,507.55 2,455.58 if the Board of Trustees are unable to pay interest at
the rate declared for Employees’ Provident Fund by
Expected return on plan -2,507.55 (2,455.58) the Government under para
assets 60 of the Employees’ Provident Fund Scheme,
Interest shortfall reversed - - 1952 for the reason that the return on investment is
Total costs of defined 965.04 961.65 less or for any other reason, then the deficiency
benefit plans included in shall be made good by the Company.
Schedule 16 "Payments to
and provisions for 3.1.2 Defined Contribution Plans
employees"
3.1.2.1 Employees Provident Fund
Reconciliation of
opening and closing net An amount of ` 32.79 crore (Previous Year `
liability/ (asset) 28.59 crore) is contributed towards the
recognised in Balance Provident Fund Scheme by the group
Sheet (excluding the entities covered in Note 3.1.1.2)
Opening Net Liability as at - - and is included under the head “Payments to
and provisions for employees” in Profit and
1st April 2018
Loss Account.
Expense as above 965.04 961.65
3.1.2.2 Defined Contribution Pension Scheme
Employer's Contribution (965.04) (961.65)
Net Liability/(Asset) - - SBI has a Defined Contribution Pension Scheme
Recognized In the Balance (DCPS) applicable to all categories of officers
Sheet and employees joining the SBI on or after
August 1, 2010. The Scheme is managed by
Investments under Plan Assets of Provident Fund as NPS Trust under the aegis of the Pension Fund
on March 31, 2019 are as follows: Regulatory and Development Authority.
National Securities Depository Limited has
Category of Assets Provident Fund been appointed as the Central Record Keeping
% of Plan Assets Agency for the NPS. During the year, an
amount of
Central Govt. Securities
` 451.39 crore [Previous Year ` 390.00 crore]
has been contributed in the scheme.
35.34%
State Govt. Securities 3.1.2.3 Accumulating Compensated Absences (Privilege
Leave)
24.83%
Debt Securities, Money The following table sets out the status of
31.74
Market Securities and Bank % Accumulating Compensated Absences
Deposits (Privilege Leave) as per Actuarial valuation by
independent Actuaries:
Mutual Funds 1.44% i) There is a guaranteed return applicable to liability under
Others 6.65% SBI Employees Provident Fund which shall not be lower of
TOTAL 100.00% either:
Particulars Provident Fund

Guaranteed Return 8.55% 8.65%
CONSOLIDATE 2
` in crore
Particulars Accumulating
Compensated
Absences (Privilege
Leave) Current Year Previous Year
Change in the present value
of the defined benefit
obligation
Opening defined benefit 6,248.59 4,760.18
obligation at 1st April 2018
Liability transferred In/ - 1,188.49
Acquisitions
Actuarial losses/(gains) 741.84 593.93
2 CONSOLIDATE
` in crore other Long Term Employee Benefits and is

included under the head “Payments to and
Particulars Accumulating provisions for employees” in Profit and Loss
Compensated Absences Account.
(Privilege Leave)
Details of Provisions made for various Other
Long Term Employees’ Benefits during the
year;
Current Previous
Year Year
` in crore
Sl. Long Term Employees’ Current Previous
Benefits paid (861.10) (936.51) Benefits No. Year Year
Closing defined benefit 6,876.64 6,248.59 1 Leave Travel and Home Travel 35.80 (4.20)
obligation at 31st March Concession
2019 (Encashment/Availment)
Net Cost recognised in the 2 Sick Leave 2.11 3.35
profit and loss account
3 Silver Jubilee/Long Term 12.64 (12.64)
Current Service Cost 261.33 210.19 Service Award
Interest Cost 485.98 432.32 4 Resettlement Expenses (4.15) (13.23)
Actuarial (Gain)/ Losses 741.84 593.93 on Superannuation
Total costs of defined 1489.15 1,236.44 5 Casual Leave - -
benefit plans included in 6 Retirement Award (7.85) (11.97)
Schedule 16 "Payments to
Total 38.55 (38.69)
and provisions for
employees"
Reconciliation of 3.1.3 The employee benefits listed above are in
opening and closing net respect of the employees of the Group based in
liability/ (asset) India. The employees of the foreign operations
recognised in Balance are not covered in the above schemes.
Sheet 3.2 Accounting Standard- 17 “Segment Reporting”:
Opening Net Liability as at 6,248.59 4,760.17
3.2.1 Segment identification
1st April 2018
Expense as above 1,489.15 1,236.44 A) Primary (Business Segment)
Net Liability/ (Asset) - 1,188.49 The following are the Primary Segments of the
transferred in Group:
Employer's Contribution - - - Treasury
Benefit paid directly by the (861.10) (936.51)
Employer - Corporate / Wholesale Banking
Net Liability/(Asset) 6,876.64 6,248.59 - Retail Banking
- Insurance Business
Principal actuarial assumptions:
- Other Banking Business
Discount Rate 7.77% 7.78% The present accounting and information
system of the Group does not support
Salary Escalation 5.20% 5.00% capturing and extraction of the data in respect
Attrition Rate 2.00% 2.00% of the above segments separately. However,
based on the present internal, organisational
Accumulating Compensated Absences (Privilege and management reporting structure and the
Leave) (excluding the entities covered in above table) nature of their risk and returns, the data on the
Primary Segments have been computed as
An amount of ` 30.76 crore (Previous Year ` 36.17 crore)
under:
is provided by the group (excluding the entities covered
in above table) towards Privilege Leave (Encashment) a) Treasury: The Treasury Segment includes
including leave encashment at the time of retirement and the entire investment portfolio and trading
is included under the head “Payments to and provisions in foreign exchange contracts and
for employees” in Profit and Loss Account. derivative contracts. The revenue of the
treasury segment primarily consists of
fees and gains or losses from trading
3.2.3.2 Other Long Term Employee Benefits
operations and interest income on the
Amount of ` 38.55 crore [Previous Year ` (-) investment portfolio.
38.69 crore] is provided/ (written back) by the
b) Corporate / Wholesale Banking: The
group towards
Corporate / Wholesale Banking segment
CONSOLIDATE 2
comprises the lending activities of Corporate

Accounts Group, Commercial Clients Group and
Stressed Assets Resolution Group. These include
providing loans and transaction
2 CONSOLIDATE
services to corporate and institutional clients

and further include non-treasury operations of C) Pricing of Inter-segmental Transfers
foreign offices/entities. The Retail Banking segment is the primary
c) Retail Banking: The Retail Banking Segment resource mobilising unit. The
comprises of retail branches, which primarily Corporate/Wholesale Banking and Treasury
includes Personal Banking activities including segments are recipient of funds from Retail
lending activities to corporate customers Banking. Market related Funds Transfer Pricing
having banking relations with these branches. (MRFTP) is followed under which a separate
This segment also includes agency business unit called Funding Centre has been created.
and ATMs The Funding Centre notionally buys funds that
the business units raise in the form of deposits
d) Insurance Business – The Insurance Business or borrowings and notionally sell funds to
Segment comprises of the results of SBI Life business units engaged in creating assets.
Insurance Co. Ltd. and SBI General Insurance
Co. Ltd. D) Allocation of Revenue, Expenses, Assets and Liabilities
e) Other Banking business – Segments not Expenses of parent incurred at Corporate

classified under (a) to (d) above are classified Centre establishments directly attributable
under this primary segment. This segment either to Corporate / Wholesale and Retail
also includes the operations of all the Non- Banking Operations or to Treasury Operations
Banking Subsidiaries/Joint Ventures other than segment, are allocated accordingly. Expenses
SBI Life Insurance Co. Ltd. and SBI General not directly attributable are allocated on
Insurance Co. Ltd. of the group. the basis of the ratio of number of
employees in each segment/ratio of directly
B) Secondary (Geographical Segment): attributable expenses.
a) Domestic Operations - Branches, Subsidiaries Revenue, expenses, assets and liabilities which
and Joint Ventures having operations in India. relate to the enterprise as a whole and are
b) Foreign Operations - Branches, Subsidiaries not allocable to any segment on a reasonable
and Joint Ventures having operations outside basis, have been reported as Unallocated.
India and offshore banking units having
operations in India.
3.2.2 SEGMENT INFORMATION

PART A: PRIMARY (BUSINESS) SEGMENTS:
` in crore
Business Segment Treasury Corporate / Retail Insurance Other TOTAL
Wholesale Banking Business Banking
Banking Operations
Revenue (before exceptional item) 77,713.33 80,139.68 1,21,250.27 43,417.32 11,643.14 3,34,163.74
(82,163.87) (64,365.45) (1,11,963.6 (34,088.37 (8,637.67) (3,01,218.97
1) ) )
Unallocated Revenue 903.54
(2,571.02)
Less : Inter Segment Revenue 4,846.40
(2,298.53)
Total Revenue 3,30,220.88
(3,01,491.46
)
Result (before exceptional items) 6,593.12 - 12,837.52 2,114.81 2,290.57 7,946.67
15,889.35
(-16.83) (- (19,464.25) (1,832.28) (1,680.23) (-15,356.78)
38,316.71)
Add : Exceptional items 466.48 466.48
(5,036.21) (5,036.21)
Result (after exceptional items) 7,059.60 - 12,837.52 2,114.81 2,290.57 8,413.15
15,889.35
(5,019.38) (- (19,464.25) (1,832.28) (1,680.23) (-10,320.57)
38,316.71)
Unallocated Income(+)/Expenses(–) -3,192.67
net (-1,924.34)
Profit/(Loss) Before Tax 5,220.48
(-12,244.91)
Taxes 2,151.41
(-8,057.50)
Extraordinary Profit 0.00
(0.00)
CONSOLIDATE 2
Net Profit/(Loss) before share in 3,069.07

profit
in Associates and Minority Interest (-4,187.41)
Add: Share in Profit in Associates 281.48
(438.16)
2 CONSOLIDATE
` in crore
Business Segment Treasury Corporate / Retail Insurance Other TOTAL
Wholesale Banking Business Banking
Banking Operations
Less: Minority Interest 1,050.91
(807.04)
Net Profit/(Loss) for the Group 2,299.64
(-4,556.29)
Other Information:
Segment Assets 10,00,105.22 14,93,139.1 1,53,355.5 33,271.01 38,34,829.1
11,54,958.34 2 0 9
(10,85,909.92) (10,24,506.47) (13,19,933.7 (1,27,110.6 (27,548.89) (35,85,009.7
6) 6) 0)
Unallocated Assets 53,637.87
(31,434.87)
Total Assets 38,88,467.0
6
(36,16,444.5
7)
Segment Liabilities 8,28,452.00 14,04,930.5 1,43,955.2 24,650.44 35,79,644.2
11,77,656.01 1 9 5
(8,10,044.02) (10,63,520.41) (13,11,488.3 (1,19,108.5 (21,136.24) (33,25,297.6
6) 8) 1)
Unallocated Liabilities 74,327.15
(60,825.01)
Total Liabilities 36,53,971.4
0
(33,86,122.6
2)
PART B: SECONDARY (GEOGRAPHIC) SEGMENTS
` in B) ASSOCIATES:
crore
Domestic Foreign i) Regional Rural Banks
Operation Operations TOTAL
s 1. Andhra Pradesh Grameena Vikas Bank
Revenue (before 3,13,646.59 16,574.29 3,30,220.88
exceptional (2,88,659.53 (12,831.9 (3,01,491.46 2. Arunachal Pradesh Rural
items) ) 3) ) Bank
Net (2,151.64) 4,451.28 2,299.64 3. Chhattisgarh Rajya Gramin
Profit/(Loss) (-6,162.65) (1,606.36) (-4,556.29) Bank
34,50,717.8 4,37,749.2 38,88,467.0 4. Ellaquai Dehati Bank

Management Company Pvt. Ltd.
(i) Income/Expenses are for the whole year.
Assets/ Liabilities are as at March 31, 7. Oman India Joint Investment Fund –
2019. Trustee Company Pvt. Ltd.
(ii) Figures within brackets are for previous 8. Jio Payments Bank Limited
year
3.3 Accounting Standard-18 “Related Party Disclosures”:
3.3.1 Related Parties to the Group:
A) JOINT VENTURES:
1. C - Edge Technologies Ltd.
2. SBI Macquarie Infrastructure Management
Pvt. Ltd.
3. SBI Macquarie Infrastructure Trustee Pvt.
Ltd.
4. Macquarie SBI Infrastructure Management
Pte. Ltd.
5. Macquarie SBI Infrastructure Trustee Ltd.
(32,04,207.9 (4,12,236.5 (36,16,444.5 5. Langpi Dehangi Rural Bank
CONSOLIDATE 9) 8) 7) 2
Liabilities 32,22,555.7 4,31,415.6 36,53,971.4 6. Madhyanchal Gramin Bank
7. Meghalaya Rural Bank
8. Mizoram Rural Bank
9. Nagaland Rural Bank
10. Purvanchal Bank
11. Saurashtra Gramin Bank
12. Utkal Grameen Bank
13. Uttarakhand Gramin Bank
14. Vananchal Gramin Bank
15. Rajasthan Marudhara Gramin Bank
16. Telangana Grameena Bank
17. Kaveri Grameena Bank
18. Malwa Gramin Bank (upto 31.12.2018)
2 CONSOLIDATE
ii) Others
19. The Clearing Corporation of India ` in crore
Ltd. Particulars Associates/ Key Total
Joint Management
20. Bank of Bhutan Ltd. Ventures Personnel
& their
21. SBI Home Finance Ltd. (under relatives
liquidation)
C) Key Management Personnel of SBI: Balances - - -
with Banks (- (- (-
) ) )
1. Shri Rajnish Kumar, Chairman Investments 97.66 - 97.66
2. Shri Dinesh Kumar Khara, Managing (67.66) (- (67.66)
Advances - ) -
Director (Risk, IT & Subsidiaries)
(-) - (-
3. Shri P. K. Gupta, Managing Director Other Assets 0.08 (- )
(Retail & Digital Banking) (0.07) ) 0.08
Maximum outstanding during the - (0.07)
4. Shri B. Sriram, Managing Director (-
(Corporate & Global Banking) (upto year
)
29.06.2018) Borrowings - -
(-) (-
5. Shri Arijit Basu, Managing Director Deposit 207.32 - )
(Corporate Clients Group & IT) (from (206.21) (- 207.32
25.06.2018) ) (206.21)
Other Liabilities 0.29
(119.61) - 0.29
6. Smt. Anshula Kant, Managing Director (-
(Stressed Assets, Risks and Compliance) (119.61)
)
(from 07.09.2018) -
(-
)
3.3.2 Related Parties with whom transactions were Balance - - -
with Banks (- (- (-
) ) )
entered into during the year:
Advances - - -
No disclosure is required in respect of (0.62) (- (0.62
related parties, which are “State controlled Investment 97.66 ) )
Enterprises” as per paragraph 9 of (77.1 - 97.66
Accounting Standard (AS) 0) (- (77.10)
Other Assets 0.08 ) 0.08
18. Further, in terms of paragraph 5 of AS
18, transactions in the nature of Banker- (0.07 - (0.07)
Customer ) (-
)
relationship have not been disclosed Non-fund - - -
including those with Key Management commitmen (- (- (-
Personnel and relatives of Key ts (LCs/BGs) ) ) )
Management Personnel.
3.3.3 Transactions and Balances:
(Figures in brackets pertain to previous year)
` in
There are no materially significant related party transactions
crore
Particulars Associates/ Key Total during the year.
Joint Management
Ventures Personnel 3.4 Accounting Standard-19 “Leases”:
& their
relatives 3.4.1 Finance Leases
Transactions during the year 2018-19
Assets taken on Financial Leases on or after April
Interest Income - - -
(- 01, 2001: The details of financial leases are given
(- (- below:
) ) )
Interest - - - ` in crore
Expenditu (0.09 (- (0.09
re ) ) ) Particulars As at As at
Income earned 19.2 - 19.2 31.03.2019 31.03.2018
by way of 6 (- 6 Total Minimum lease payments outstanding
Dividend (29.24 ) (29.24
) )
CONSOLIDATE 2
Other Income 0.10 - 0.10

(0.17 (- (0.17) Less than 1 year 24.58 17.26
) ) 1 to 5 years 65.08 56.06
Other 0.36 - 0.36
Expenditu 5 years and above - -
(12.31) (- (12.31)
re ) Total 89.66 73.32
- 1.32
Manageme (- 1.32 (2.05) Interest Cost payable
nt Contract ) (2.05) Less than 1 year 6.03 4.77
Outstanding as on March 31, 2019 1 to 5 years 7.89 13.19
Payables
5 years and above - -
Deposit 47.18 - 47.1
(44.75) Total 13.92 17.96
(- 8
Other Liabilities 0.29 ) (44.75
(1.19 ) - )
Receivables (- 0.2 Present value of minimum lease payments payable
) 9
(1.19
)
2 CONSOLIDATE
` in crore
Particulars Current Previous
Particulars As at As at Basic and diluted Year Year
March 31, 2019 March 31, 2018
Weighted average 892,45,91,47 853,30,51,1
Less than 1 year 18.55 12.49 number of shares used 9 35
1 to 5 years 57.19 42.87 in computing diluted
5 years and above - - earnings per share
Total 75.74 55.36 Net Profit/(Loss) for the 2,299.64 (4,556.29)
Group (` in crore)
3.4.2 Operating Lease Basic earnings per share (`) 2.58 (5.34)
Premises taken on operating lease are given Diluted earnings per share 2.58 (5.34)
below: (`)
Operating leases primarily comprise office 3.6 Accounting Standard-22 “Accounting for Taxes on
premises and staff residences, which are Income”:
renewable at the option of the group entities.
i) During the year, ` 878.16 crore has been
Liability for Premises taken on Non-Cancellable debited to Profit and Loss Account (Previous
operating lease are given below: Year ` 9,804.79 crore credited) on account of
` in crore deferred tax.
ii) The breakup of deferred tax assets and
Particulars As at As at liabilities into major items is given below:
31.03.2019 31.03.2018
Not later than 1 year 188.39 208.53 ` in crore
Later than 1 year and 558.54 613.72 31.03.2019 31.03.2018
not later than 5 years
Deferred Tax Assets
Later than 5 years 120.46 252.46 Provision for long term 5,363.60 3,486.07
Total 867.39 1,074.71 employee Benefits
Provision for advances 4,404.39 4,415.43
Provision for Other 753.11 743.57
Amount of lease payments recognised in the Profit & Assets/ Other
Loss Account for the year is ` 3,522.61 crore Liability
(Previous Year ` 3,440.01 crore).
On Accumulated Losses 10,863.94 13,889.32
3.5 Accounting Standard-20 “Earnings per Share”: On Foreign 235.77 -
Currency
The Bank reports basic and diluted earnings Translation
per equity share in accordance with Accounting Reserve
Standard 20 - “Earnings per Share”. “Basic
Depreciation on 50.00 14.91
earnings” per share is computed by dividing
Fixed Assets
consolidated net profit/ (loss) after tax (other
than minority) by the weighted average DTAs on account of 277.68 317.04
number of equity shares outstanding during FOs of SBI
the year. Others 220.38 207.56
Particulars Current Previous Total 22,168.87 23,073.90

Basic and diluted Year Year Deferred Tax Liabilities
Number of Equity Shares 892,45,87,53 797,35,04,4 Depreciation on 99.44 89.71
outstanding at the 4 42 Fixed Assets
Interest accrued but 6,389.76 6,315.01
Number of Equity 24,000 95,10,83,09 not due on securities
Shares issued during 2
Special Reserve 4,690.10 4,690.10
the year
created u/s 36(1)(viii)
Number of Equity Shares 892,46,11,53 892,45,87,5 of Income Tax Act
outstanding at the end of 4 34 1961
the year
DTLs on account of 2.33 2.80
Weighted average 892,45,91,47 853,30,51,1 FOs of SBI
number of equity 9 35
shares used in
computing basic earnings
per share
CONSOLIDATE 2
` in crore ` in crore
Particulars As at As at Sr. Break up of “Provisions and Current Previous
31.03.2019 31.03.2018 No. Contingencies” shown under Year Year
Others 8.22 26.66 head Expenditure in Profit
Total 11,189.85 11,241.58 and loss account
a) Provision for Taxation
Net Deferred Tax 10,979.02 11,832.32
- Current Tax 1,982.02 1,758.40
Assets/(Liabilities)
- Deferred Tax 878.16 (9,804.79
)
3.7 Accounting Standard-28 “Impairment of assets”:
- Write Back of Income Tax (708.77) (11.11)
In the opinion of the Management, there is no b) Provision on Non- 55,343.42 72,217.65
impairment to the assets during the year to Performing Assets
which Accounting Standard 28 – “Impairment c) Provision on (89.85) (691.67)
of Assets” applies. Restructured Assets
d) Provision on Standard Assets 20.51 (3,584.56
3.8 Accounting Standard – 29 “Provisions,
)
Contingent Liabilities and Contingent Assets”
e) Provision for Depreciation (606.00) 8,177.30
◆ Provisions and contingencies recognised in on Investments
Profit and Loss Account: f) Other Provisions 131.03 (103.65)
(Figures in brackets indicate credit)
◆ Floating provisions:
` in crore
No.
a) Opening Balance 193.75 193.75
b) Addition during the year - -
c) Draw down during the year - -
d) Closing balance 193.75 193.75
◆ Description of contingent liabilities (AS-29):
Sr. Particulars Brief Description

No
1 Claims against The parent and its constituents are parties to various proceedings in the normal course of
business. It does
the Group not not expect the outcome of these proceedings to have a material adverse effect on the
Group’s financial
acknowledged conditions, results of operations or cash flows. The Group is a party to various taxation
as matters in respect
debts of which appeals are pending.
2 Liability on This item represents amounts remaining unpaid towards liability for partly paid
investments. This also
partly paid-up includes undrawn commitments for Venture Capital Funds.
investments/
Venture Funds
3 Liability on The Group enters into foreign exchange contracts in its normal course of business to
exchange currencies
account of at a pre-fixed price at a future date. Forward exchange contracts are commitments to buy
or sell foreign
outstanding currency at a future date at the contracted rate. The notional amounts are recorded as
contingent
forward liabilities. With respect to the transactions entered into with its customers, SBI generally
exchange enters into off-
contracts setting transactions in the interbank market. This results in generation of a higher number of
outstanding
transactions, and hence a large value of gross notional principal of the portfolio, while the
net market risk
is lower.
2 CONSOLIDATE
Sr. Particulars Brief Description

No
4 Guarantees As a part of its commercial banking activities, the Group issues documentary credits and
given on guarantees on behalf of its customers. Documentary credits enhance the credit standing of
behalf of the customers of the Group. Guarantees generally represent irrevocable assurances that the
constituents, Bank will make payment in the event of the customer failing to fulfil its financial or
acceptances, performance obligations.
endorsement
s and other
obligations
5 Other items
The Group enters into currency options, forward rate agreements, currency swaps and
for which the
interest rate swaps with inter-Bank participants on its own account and for customers.
Group is
Currency swaps are commitments to exchange cash flows by way of interest/principal in one
contingently
currency against another, based on predetermined rates. Interest rate swaps are
liable
commitments to exchange fixed and floating interest rate cash flows. The notional amounts
that are recorded as Contingent Liabilities, are typically amounts used as a benchmark for
the calculation of the interest component of the contracts. Further, these also include
estimated amount of contracts remaining to be executed on capital account and not
provided for, letter of comforts issued by SBI on behalf of Associates & Subsidiaries, SBI’s
Liability under Depositors Education and Awareness Fund A/c and other sundry contingent
liabilities.
The contingent liabilities mentioned above are dependent upon the outcome of court/arbitration/out of court
settlements, disposal of appeals, the amount being called up, terms of contractual obligations, devolvement and
raising of demand by concerned parties, as the case may be.
◆ Movement of provisions against contingent liabilities:

` in crore
Sr Particulars Current Year Previous Year
No
a) Opening Balance 526.29 1,026.38
b) Additions during the year 113.95 127.43
c) Amount utilised during the year 66.22 227.72
d) Unused amount reversed during the year 39.27 399.80
e) Closing balance 534.75 526.29
4 Inter-Bank/ Company balances between group circular, SBI has not recognized interest on
entities are being reconciled on an ongoing these accounts and is
basis. No material effect is expected on the
profit and loss account of the current year.
5 Counter Cyclical Provisioning Buffer (CCPB)
RBI vide Circular No. DBR.No.BP.
BC.79/21.04.048/2014-15 dated March 30,
2015 on ‘Utilisation of Floating
Provisions/Counter Cyclical Provisioning Buffer’
has allowed the banks, to utilise up to 50 per
cent of CCPB held by them as on December
31, 2014, for making specific provisions for
Non-Performing Assets (NPAs) as per the policy
approved by SBI’s Board of Directors.
During the year, SBI has not utilized the CCPB
for making specific provision for NPAs.
6 RBI vide Circular no. DBR.No.BP.
BC.108/21.04.048/2017-18 dated June 06,
2018 permitted banks to continue the
exposures to MSME borrowers to be classified
as standard assets. Accordingly, SBI has
retained advances of ` 242.32 crore as
standard asset as on March 31, 2019. In
accordance with the provisions of the
CONSOLIDATE 2
maintaining a standard asset provision of ` 12.12

crore as on March 31,2019 in respect of such
borrowers.
7 As per RBI letter no. DBR.
No.BP.15199/21.04.048/2016-17 and DBR.
No. BP. 1906/21.04.048/ 2017-18 dated June 23,
2017 and August 28, 2017 respectively, for the
accounts covered under the provisions of
Insolvency and Bankruptcy Code (IBC), SBI is
holding total provision of ` 34,554 crore (89.66%
of total outstanding) as on March 31,2019.
8 SBI has made a provision of ` 3,984 crore
(total
` 5,643.41 crore) for the year ended March 31,
2019 towards arrears of wages due for revision
w.e.f November 01, 2017.
9 Profit / (loss) on sale of investment (net) under
schedule 14 “Other Income” includes ` 446.48
crore on sale of partial investment in SBI General
Insurance Company Limited (Previous year `
5,036.21crore on sale of partial investment in
SBI Life Insurance Company Limited).
2 CONSOLIDATE
10 In respect of SBI Life Insurance Company Ltd.:

11 The investments of life and general insurance
a) IRDAI has issued directions under subsidiaries have been accounted for in
Section 34(1) of the Insurance Act, 1938 accordance with the IRDAI (Investment)
to distribute the administrative charges Regulations, 2016 instead of restating the
paid to Master policy holders vide order same in accordance with the accounting policy
no. IRDA/Life/ORD/ Misc/228/10/2012 followed by SBI. The investments of insurance
dated October 5, 2012 amounting to ` subsidiaries constitute approximate 12.74%
84.32 crore (Previous Year ` (Previous Year 9.87%) of the total investments
84.32 crore). The company had filed an as on March 31, 2019.
appeal against the said order with Ministry
of Finance, Government of India, who 12 In accordance with RBI circular DBOD NO.BP.
remanded the case back to IRDAI on BC.42/21.01.02/2007-08, redeemable
November 04, 2015. IRDAI issued further preference shares (if any) are treated as
directions dated January 11, 2017 liabilities and the coupon payable thereon is
reiterating the directions issued on treated as interest.
October 5, 2012. The company has filed 13 In accordance with current RBI guidelines, the
an appeal against the said directions general clarification issued by ICAI has been
/orders with Securities Appellate Tribunal considered in the preparation of the
b) IRDAI has issued directions under consolidated financial statements. Accordingly,
Section 34(1) of the Insurance Act, 1938 to additional statutory information disclosed in
refund the excess commission paid to separate financial statements of the parent and
corporate agents to the members or the its subsidiaries having no bearing on the true
beneficiaries amounting to ` 275.29 crore and fair view of the consolidated financial
(Previous Year ` 275.29 crore) vide order statements and also the information pertaining
no. IRDA/Life/ORD/Misc/083/03/2014 dated to the items which are not material have not
March 11, 2014 .The company has filed been disclosed in the consolidated financial
appeals against the order with the statements in view of the Accounting Standard
Securities Appellate Tribunal (SAT). Interpretation issued by ICAI.
As the final orders are pending, the 14 Previous year figures have been regrouped/
aforesaid amounts have been disclosed as reclassified, wherever necessary, to confirm to
contingent liability. current year classification. In cases where
disclosures have been made for the first time in
terms of RBI guidelines/ Accounting Standards,
previous year’s figures have not been
mentioned.


Chairman Partner
CONSOLIDATE 2
State Bank of India

Consolidated Cash Flow Statement for the year ended 31st March 2019
(000s omitted)
PARTICULARS Year ended Year ended
31.03.2019 31.03.2018
` `
CASH FLOW FROM OPERATING ACTIVITIES
Net Profit/(Loss) before taxes (including share in profit from associates and 4451,05,72 (12613,79,21)
net of minority interest)
Adjustments for :
Depreciation on Property, Plant & Equipment 3495,89,21 3105,07,10
(Profit)/Loss on sale of Property, Plant & Equipment (Net) 32,35,82 30,73,27
(Profit)/Loss on revaluation of Investments (Net) 2124,03,82 1120,61,02
(Profit)/Loss on sale of Investments in Subsidiaries/Joint Ventures/Associates (466,47,81) (5134,30,14)
Provision for diminution in fair value & Non Performing Assets 55253,57,08 71525,98,80
Provision on Standard Assets 20,50,53 (3584,56,16)
Provision for depreciation on Investments (606,00,24) 8177,30,33
Other Provisions including provision for contingencies 131,02,52 (103,64,78)
Share in Profit of Associates (281,47,94) (438,15,98)
Dividend from Associates (11,71,87) (15,45,97)
Interest on Capital Instruments 4222,27,24 4554,43,06
68365,04,08 66624,21,34
Changes in:
Increase/(Decrease) in Deposits 218362,77,89 121391,84,57
Increase/(Decrease) in Borrowings other than Capital Instruments 41290,72,22 44832,14,90
(Increase)/Decrease in Investments other than Investment in 63373,44,50 (164770,34,41)
Subsidiaries/ Joint Ventures/Associates
(Increase)/Decrease in Advances (321988,70,29) (134190,21,63)
Increase/(Decrease) in Other Liabilities 4182,31,31 (111,91,71)
(Increase)/Decrease in Other Assets (35854,36,00) (22273,22,00)
37731,23,71 (88497,48,94)
Tax refund / (Taxes paid) (8175,23,21) (8010,41,70)
NET CASH GENERATED FROM / (USED IN) OPERATING ACTIVITIES (A) 29556,00,50 (96507,90,64)
CASH FLOW FROM INVESTING ACTIVITIES
(Increase)/Decrease in Investments in Subsidiaries/Joint Ventures/Associates (63,52,57) 104,83,55
Profit/(Loss) on sale of Investments in Subsidiaries/Joint Ventures/Associates 466,47,81 5134,30,14
Dividend from Associates 11,71,39 15,45,97
(Increase)/Decrease in Property, Plant & Equipment (3005,51,02) 6601,82,54
(Increase)/Decrease in Goodwill on Consolidation 1734,07,01 (790,65,51)
NET CASH GENERATED FROM / (USED IN) INVESTING ACTIVITIES (B) (856,77,38) 11065,76,69
CASH FLOW FROM FINANCING ACTIVITIES
(Expenses on Shares issued and allotted on 27 March (8,74,22) 23782,45,47
2018) / Proceeds from issue of Equity Shares net of
issue expense
2 CONSOLIDATE
(000s omitted)
PARTICULARS Year ended Year ended
31.03.2019 31.03.2018
` `
Issue/redemption of Capital Instruments (net) 3377,60,00 (12118,47,50)
Interest on Capital Instruments (4222,27,24) (4554,43,06)
Dividend paid including tax thereon ,,0 (2416,26,71)
Dividend tax paid by Subsidiaries/Joint Ventures (120,69,39) (143,58,57)
Increase/(Decrease) in Minority Interest 1421,74,62 997,46,74
NET CASH GENERATED FROM / (USED IN) FINANCING ACTIVITIES (C) 447,63,77 5547,16,37
EFFECT OF EXCHANGE FLUCTUATION ON TRANSLATION RESERVE (D) 1076,28,67 1305,17,53
CASH AND CASH EQUIVALENTS RECEIVED ON ACCOUNT OF MERGER OF (E) - 681,75,35
BHARATIYA MAHILA BANK
NET INCREASE / (DECREASE) IN CASH AND CASH 30223,15,56 (77908,04,70)
EQUIVALENTS (A)+(B)+(C)+(D)+(E)
CASH AND CASH EQUIVALENTS AT 1ST APRIL 195289,10,83 273197,15,53
CASH AND CASH EQUIVALENTS AT PERIOD END 225512,26,39 195289,10,83
Note:
1) Components of Cash & Cash Equivalents as at: 31.03.2019 31.03.2018
Cash & Balances with Reserve Bank of India 177362,74,09 150769,45,69
Balances with Banks and Money at Call & Short Notice 48149,52,30 44519,65,14
Total 225512,26,39 195289,10,83
2) Cash Flow from operating activities is reported by using indirect method.


Chairman Partner
CONSOLIDATE 2
Independent Auditors’ Report
To
financial statements are in conformity with
accounting principles generally accepted in India and
The Board of
give:
Directors, State Bank
of India, State Bank a) true and fair view in case of the Consolidated
Bhavan Madam Balance Sheet, of the State of Affairs of the Group as
Cama Road, at March 31, 2019;
Mumbai-400021
b) true balance of profit in case of Consolidated Profit &
Loss Account for the year ended on that date; and
Report on Audit of the Consolidated Financial Statements
c) true and fair view in case of Consolidated Cash Flow
Opinion Statement for the year ended on that date.
1. We have audited the accompanying Consolidated
Financial Statements of State Bank of India (“the Basis for Opinion
Bank”) which comprise the Consolidated Balance 2. We conducted our audit in accordance with the
Sheet as at March 31, 2019, the Consolidated Standards on Auditing (SAs) issued by the Institute
Profit and Loss Account and Consolidated Cash Flow of Chartered Accountants of India (the ICAI). Our
Statement for the year then ended, and Notes to responsibilities under those Standards are further
Consolidated Financial Statements including a described in the Auditor’s Responsibilities for the
summary of Significant Accounting Policies and Audit of the Consolidated Financial Statements
other explanatory information which includes: section of our report. We are independent of the
Group in accordance with the code of ethics issued
a) Audited Results of the Bank which have been by the ICAI together with ethical requirements that
reviewed by all the Central Statutory Auditors are relevant to our audit of the Consolidated
including us; Financial Statements under the provisions of the Act,
b) Audited Results of 28 Subsidiaries, 8 Joint Ventures and we have fulfilled our other ethical
and 17 Associates audited by other Auditors responsibilities in accordance with these
(including 15 Regional Rural Banks); and requirements and the code of ethics. We believe
that the audit evidence we have obtained is
c) Un-audited results of 1 Subsidiary and 3 Associates sufficient and appropriate to provide a basis for our
(including 2 Regional Rural Banks) opinion.
The above entities together with the Bank are
Key Audit Matters
referred to as the ‘Group’.
3. Key Audit Matters are those matters that in our
In our opinion and to the best of our information and professional judgment were of most significance in
according to the explanations given to us, and based our audit of the Consolidated Financial Statements
on our consideration of the reports of other auditors for the year ended March 31, 2019. These matters
on separate financial statements of Subsidiaries, were addressed in the context of our audit of the
Joint Ventures and Associates, the unaudited Consolidated Financial Statements as a whole and in
financial statements and the other financial forming our opinion thereon and we do not provide a
information of subsidiaries and Associates as separate opinion on these matters. We have
furnished by the management, the aforesaid determined the matters described below to be the
consolidated Key Audit Matters of the Bank to be communicated
in our report:
2 CONSOLIDATE

No.
i Classification of Advances and Identification of and Our audit approach towards advances with reference
provisioning for non-performing Advances in to the IRAC norms and other related circulars /
accordance with the RBI guidelines (Refer directives issued by RBI and also internal policies and
Schedule 9 read with Note 3 of Schedule 17 to the procedures of the Bank includes the testing of the
standalone financial statements) following:
Advances include Bills purchased and discounted, - The accuracy of the data input in the system for
Cash credits, Overdrafts loans repayable on income recognition, classification into performing
demand and Term loans. These are further and non- performing Advances and provisioning
categorised as secured by Tangible assets in accordance with the IRAC Norms in respect of
(including advances against Book Debts), covered the branches allotted to us;
by Bank / Government Guarantees and Unsecured
advances. - Existence and effectiveness of monitoring
mechanisms such as Internal Audit, Systems
Advances constitute 59.38% of the Bank’s total Audit, Credit Audit and Concurrent Audit as per
assets. They are, inter-alia, governed by income the policies and procedures of the Bank;
We have examined the efficacy of various internal
(IRAC) norms and other circulars and directives
controls over advances to determine the nature, timing
issued by the RBI from time to time which
and extent of the substantive procedures and
provides guidelines related to classification of
compliance with the observations of the various audits
Advances into performing and non-performing
conducted as per the monitoring mechanism of the
Advances (NPA). The Bank classifies these
Bank and RBI Inspection.
Advances based on IRAC norms as per its
accounting policy No. 3.
Identification of performing and non-performing
Advances involves establishment of proper In carrying out substantive procedures at the branches
mechanism. The Bank accounts for all the allotted to us, we have examined all large
transactions related to Advances in its advances/stressed advances while other advances
Information Technology System (IT System) viz. have been examined on a sample basis including
Core Banking Solutions (CBS) which also identifies review of valuation reports of independent valuer’s
whether the advances are performing or non- provided by the Bank’s management.
performing. Further, NPA classification and Reliance is also placed on Audit Reports of other
calculation of provision is done through another IT Statutory Branch Auditors with whom we have also
System viz. Centralised Credit Data Processing made specific communication.
(CCDP) Application.
The carrying value of these advances (net of We have also relied on the reports of External IT
provisions) may be materially misstated if, either System Audit experts with respect to the business
individually or in aggregate, the IRAC norms are logics / parameters inbuilt in CBS for tracking,
not properly followed. identification and stamping of NPAs and provisioning in
Considering the nature of the transactions, respect thereof.
regulatory requirements, existing business
environment, estimation/ judgement involved in
valuation of securities, it is a matter of high
importance for the intended users of the
Standalone Financial Statements. Considering
these aspects, we have determined this as a Key
Audit Matter.
Accordingly, our audit was focused on income
pertaining to advances due to the materiality of
the balances.
CONSOLIDATE 2

No.
ii Classification and Valuation of Investments, Our audit approach towards Investments with
Identification of and provisioning for Non- reference to the RBI Circulars / directives included
Performing Investments (Schedule 8 read with the review and testing of the design, operating
Note 2 of Schedule 17 to the standalone financial effectiveness of internal controls and substantive
statements) audit procedures in relation to valuation, classification,
Investments include investments made by the identification of Non Performing Investments,
Bank in various Government Securities, Bonds, Provisioning / depreciation related to Investments. In
Debenture, Shares, Security receipts and other particular,
approved securities. Investments constitute
26.27% of the Bank’s total assets. These are a. We evaluated and understood the Bank’s internal
governed by the circulars and directives of the control system to comply with relevant RBI
Reserve Bank of India (RBI). These directions of guidelines regarding valuation, classification,
RBI, inter-alia, cover valuation of investments, identification of Non Performing Investments,
classification of investments, identification of non- Provisioning/depreciation related to investments;
performing investments, the corresponding non-
recognition of income and provision there b. We assessed and evaluated the process
against. adopted for collection of information from various
The valuation of each category (type) of the sources for determining fair value of these
aforesaid securities is to be done as per the investments;
method prescribed in circulars and directives c. For the selected sample of investments in hand,
issued by the RBI which involves collection of we tested accuracy and compliance with the RBI
data/information from various sources such as Master Circulars and directions by re-performing
FIMDA rates, rates quoted on BSE / NSE, financial valuation for each category of the security.
statements of unlisted companies etc. Considering Samples were selected after ensuring that all the
the complexities and extent of judgement involved categories of investments (based on nature of
in the valuation, volume of transactions, security) were covered in the sample;
investments on hand and degree of regulatory
focus, this has been determined as a Key Audit d. We assessed and evaluated the process of
Matter. identification of NPIs, and corresponding reversal
Accordingly, our audit was focused on valuation of of income and creation of provision;
investments, classification, identification of Non e. We carried out substantive audit procedures to
Performing Investments and provisioning related recompute independently the provision to be
to investments. maintained and depreciation to be provided in
accordance with the circulars and directives of
the RBI. Accordingly, we selected samples from
the investments of each category and tested for
NPIs as per the RBI guidelines and recomputed
the provision to be maintained in accordance with
the RBI Circular for those selected sample of
NPIs;
f. We tested the mapping of investments between
the Investment application software and the
financial statement preparation software to
ensure compliance with the presentation and
disclosure requirements as per the aforesaid RBI
Circular/directions.
iii Assessment of Provisions and Contingent Our audit approach involved :-
liabilities in respect of certain litigations including
Direct and Indirect Taxes, various claims filed by a. Understanding the current status of the
other parties not acknowledged as debt. (Schedule litigations/tax assessments;
12 read with Note 18.9 of Schedule 18 to the b. Examining recent orders and/or communication
financial statements) : received from various Tax Authorities/ Judicial
There is high level of judgement required in forums and follow up action thereon;
estimating the level of provisioning. The Bank’s c. Evaluating the merit of the subject matter under
assessment is supported by the facts of matter, consideration with reference to the grounds
their own judgment, past experience, and advices presented therein and available independent
from legal and independent tax consultants legal / tax advice ; and
wherever considered necessary. Accordingly,
unexpected adverse outcomes may significantly d. Review and analysis of evaluation of the
impact the Bank’s reported profit and the Balance contentions of the Bank through discussions,
Sheet. collection of details of the subject matter under
consideration, the likely outcome and consequent
2 CONSOLIDATE
We determined the above area as a Key Audit potential outflows on those issues.
Matter in view of associated uncertainty relating to
the outcome of these matters which requires
application of judgment in interpretation of law.
Accordingly, our audit was focused on analysing
the facts of subject matter under consideration
and judgments/ interpretation of law involved.
CONSOLIDATE 2
Information Other than the Consolidated Financial implementation and maintenance of adequate internal
Statements and Auditors’ Report thereon financial controls, that were operating effectively for
ensuring the accuracy and completeness of the
4. The Bank’s Board of Directors is responsible for the accounting records, relevant to the preparation and
other information. The other information comprises presentation of the financial statements that give a true
the Corporate Governance report (but does not and fair view and are free from material misstatement,
include the Consolidated Financial Statements and whether due to fraud or error.
our auditors’ report thereon), which will be obtained
at the time of issue of this auditors’ report, and the
Directors’ Report of the Bank including annexures, if
any, thereon, which is expected to be made
available to us after that date.
Our opinion on the Consolidated Financial
Statements does not cover the other information
and the Basel III Disclosure and we do not and will
not express any form of assurance conclusion
thereon.
In connection with our audit of the Consolidated
Financial Statements, our responsibility is to read
the other information identified above and, in doing
so, consider whether the other information is
materially inconsistent with the Consolidated
Financial Statements or our knowledge obtained in
the audit or otherwise appears to be materially
misstated.
If, based on the work we have performed on the
other information that we obtained prior to the date
of this auditors’ report, we conclude that there is a
material misstatement of this other information, we
are required to report that fact. We have nothing to
report in this regard.
When we read the Director’s Report of the Bank,
including annexures, if any, thereon, if we
conclude that there is a material misstatement
therein, we are required to communicate the matter
to those charged with governance.
Responsibilities of Management and Those Charged with

Governance for the Consolidated Financial Statements
5. The Bank’s Board of Directors is responsible with
respect to the preparation of these Consolidated
Financial Statements that give a true and fair view
of the consolidated financial position, consolidated
financial performance and consolidated cash
flows of the Group in accordance with the
Accounting Standard 21-“Consolidated Financial
Statements”, Accounting Standards 23-
“Accounting for Investment in Associates in
Consolidated Financial Statements” and
Accounting Standards 27 – “Financial Reporting of
Interest in Joint Venture” issued by the Institute of
Chartered Accountants of India, and provisions of
Section 29 of the Banking Regulation Act, 1949,
the State Bank of India Act,1955 and circulars and
guidelines issued by the Reserve Bank of India
(RBI) from time to time and other accounting
principles generally accepted in India. This
responsibility also includes maintenance of
adequate accounting records in accordance with
the provisions of the Act for safeguarding of the
assets of the Bank and for preventing and
detecting frauds and other irregularities; selection
and application of appropriate accounting policies;
making judgments and estimates that are
reasonable and prudent; and design,
2 CONSOLIDATE
In preparing the Consolidated Financial Statements or, if such disclosures are

Statements, respective management is inadequate, to modify our opinion. Our
responsible for assessing the respective Group conclusions are based on the audit evidence
Entity’s ability to continue as a going concern, obtained up to the date of our auditors’ report.
disclosing, as applicable, matters related to However, future events or conditions may
going concern and using the going concern cause the Group Entity to cease to continue as
basis of accounting unless management either a going concern.
intends to liquidate the Group Entity or to
cease operations, or has no realistic • Evaluate the overall presentation structure and
alternative but to do so. content of the Consolidated Financial
Statements, including the disclosures and
Those managements are also responsible for whether the Consolidated Financial Statements
overseeing the respective Group Entity’s represent the underlying transactions and
financial reporting process. events in a manner that achieves fair
presentation.
Auditors’ Responsibility for the Audit of Consolidated
Financial Statements
6. Our objectives are to obtain reasonable
assurance about whether the Consolidated
Financial Statements as a whole are free from
material misstatement whether due to fraud
or error and to issue an auditor’s report that
includes our opinion. Reasonable assurance is
a high level of assurance, but is not a
guarantee that an audit conducted in
accordance with SAs will always detect a
material misstatement when it exists.
Misstatements can arise from fraud or error
and are considered material, if individually or
in aggregate, they could reasonably be
expected to influence the economic decisions
of users taken on the basis of these
Consolidated Financial Statements.
As part of an audit in accordance with SAs, we
exercise professional judgment and maintain
professional skepticism throughout the audit.
We also:
• Identify and assess the risks of material
misstatement of the Consolidated
Financial Statements, whether due to
fraud or error, design and perform audit
procedures responsive to those risks and
obtain audit evidence that is sufficient
and appropriate to provide a basis for
our opinion. The risk of not detecting a
material misstatement resulting from
fraud is higher than for one resulting
from error, as fraud may involve
collusion, forgery, intentional omissions,
misrepresentations or the override of
internal control.
• Evaluate the appropriateness of
accounting policies used and the
reasonableness of accounting estimates
and related disclosures made by
management.
• Conclude on the appropriateness of
management’s use of the going concern
basis of accounting and, based on the
audit evidence obtained, whether a
material uncertainty exists related to
events or conditions that may cast
significant doubt on the Group Entity’s
ability to continue as a going concern. If
we conclude that a material uncertainty
exists, we are required to draw attention
in our auditors’ report to the related
disclosures in the Consolidated Financial
CONSOLIDATE 2
Materiality is the magnitude of misstatements crores and net cash out flows amounting to
in the Consolidated Financial Statements that, INR 921 crores for the year ended on that
individually or in aggregate, makes it probable date, as considered in the consolidated
that the economic decisions of a reasonably financial statements. The consolidated
knowledgeable user of the financial statements financial statements
may be influenced. We consider quantitative
materiality and qualitative factors in (i)
planning the scope of our audit work and in
evaluating the results of our work; and (ii) to
evaluate the effect of any identified
misstatements in the financial statements.
We communicate with those charged with
governance regarding, among other matters,
the planned scope and timing of the audit and
significant audit findings, including any
significant deficiencies in internal control that
we identify during our audit.
We also provide those charged with
governance with a statement that we have
complied with relevant ethical requirements
regarding independence and to communicate
with them all relationships and other matters
that may reasonably be thought to bear on
our independence, and where applicable,
related safeguards.
From the matters communicated with those
charged with governance, we determine
those matters that were of most significance
in the audit of the Consolidated Financial
Statements of the current period and are
therefore the Key Audit Matters. We describe
these matters in our auditors’ report unless law
or regulation precludes public disclosure about
the matter or when, in extremely rare
circumstances, we determine that a matter
should not be communicated in our report
because the adverse consequences of doing so
would reasonably be expected to outweigh the
public interest benefits of such
communication.
Other Matters
7. Incorporated in these consolidated financial
statements are the:
a) We along with 13 (thirteen) Joint Auditors did
not audit the financial statements/ information
of 14,796 branches included in the standalone
financial statements of the Bank whose
financial statements
/ financial information reflect total advances of
INR 14,00,731.01 crores at 31st March 2019 and
total interest income of INR 1,06,540.62 crores
for the year ended on that date, as considered
in the standalone financial statements. The
financial statements / information of these
branches have been audited by the branch
auditors whose reports have been furnished to
us, and in our opinion in so far as it relates to
the amounts and disclosures included in
respect of branches, is based solely on the
report of such branch auditors;
b) We did not audit the financial statements of 28
(twenty eight) Subsidiaries, 8 (eight) Joint
Ventures whose financial statements reflect
total assets of INR 2,25,286 crores as at 31st
March, 2019, total revenues of INR 57,143
2 CONSOLIDATE
also include the Group’s share of net profit of upon Appointed Actuary’s certificate in this regard
INR 241 crores for the year ended 31 st March, for forming our opinion on the valuation of liabilities
2019, as considered in the consolidated financial for life policies in force and for policies in respect of
statements, in respect of 17 (seventeen) which premium has been discontinued but liability
associates, whose financial statements have not exists in financial statements of the Company.
been audited by us. These financial statements
have been audited by other auditors whose
reports have been furnished to us by the
Management and our opinion on the
consolidated financial statements, in so far as it
relates to the amounts and disclosures included
in respect of these subsidiaries, jointly controlled
entities and associates, and our report in so far
as it relates to the aforesaid subsidiaries, jointly
controlled entities and associates, is based solely
on the reports of the other auditors
c) We did not audit the financial statements of
1(one) subsidiary whose financial statements
reflect total assets of INR 5,766 crores as at 31 st
March, 2019, total revenues of INR 238 crores
and net cash inflows amounting to INR 39
crores for the year ended on that date, as
considered in the consolidated financial
statements. The consolidated financial
statements also include the Group’s share of net
profit of INR 41 crores for the year ended 31st
March, 2019, as considered in the consolidated
financial statements, in respect of 3(three)
associates, whose financial statements have not
been audited by us. These financial
statements are unaudited and have been
furnished to us by the Management and our
opinion on the consolidated financial statements,
in so far as it relates to the amounts and
disclosures included in respect of these
subsidiaries, jointly controlled entities and
associates, and our report relates to the
aforesaid subsidiaries, jointly controlled entities
and associates, in so far as is based solely on
such unaudited financial statements. In our
opinion and according to the information and
explanations given to us by the Management,
these financial statements are not material to
the Group.
Our opinion on the consolidated financial
statements is not modified in respect of the
above matters with respect to our reliance on
the work done and the reports of the other
auditors and the financial statements certified by
the Management.
8. The auditors of SBI Life Insurance Company Limited
and SBI General Insurance Company Limited, a
subsidiary of the Group have reported that the
actuarial valuation of liabilities for life policies in force
and the actuarial valuation of liabilities in respect of
Claims Incurred But Not Reported (IBNR) and Claims
Not Incurred But Not Enough Reported (IBNER) is the
responsibility of the Company’s Appointed Actuary
(the “Appointed Actuary”). The actuarial valuation of
these liabilities for life policies in force and for policies
in respect of which premium has been discontinued
but liability exists as at March 31, 2019 has been duly
certified by the Appointed Actuary and in his opinion,
the assumptions for such valuation are in accordance
with the guidelines and norms issued by the Insurance
Regulatory Development Authority of India (“IRDAI”
/ “Authority”) and the Institute of Actuaries of India
in concurrence with the Authority. We have relied
CONSOLIDATE 2
Report on Other Legal and Regulatory Requirements

9. The Consolidated Balance Sheet and the
Consolidated Profit and Loss Account have been
drawn up in accordance with Section 29 of the
Banking Regulation Act, 1949; and these give
information as required to be given by virtue of
the provisions of the State Bank of India Act, 1955
and regulations there under.
Subject to the limitations of the audit indicated in
paragraph 5 to 8 above and as required by the
State Bank of India Act, 1955, and subject also to
the limitations of disclosure required therein, we
report that:
a) We have obtained all the information and
explanations which, to the best of our knowledge
and belief, were necessary for the purposes of our
audit and have found them to be satisfactory;
b) The transactions of the Bank, which have come to
our notice, have been within the powers of the
Bank; and
c) The returns received from the offices and branches
of the Bank have been found adequate for the
purposes of our audit.
For J. C. Bhalla &

Co. Chartered
Accountants
Firm’s Registration No. 001111N
Shri Rajesh Sethi

Place: Mumbai Partner
Date: 10th May, 2019 Membership No:
085669

State Bank of India: Balance Sheet As at 31 March, 2019

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State Bank of India: Balance Sheet As at 31 March, 2019

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STANDALO 1

State Bank of India

In terms of our report of even date

RAJESH SETHI ANIRBAN PAL K. JITENDRA KUMAR Partner : M. No. 20182

VITESH D. GANDHI M. K. JUNEJA ABHIJIT NEOGI

S. R. TOTLA V. CHANDRASEKARAN Partner: M. No. 024844 Firm Regn. No. 230448S

SANJIV KAPOOR SAMEER B. DOSHI AJAY KUMAR AGRAWAL

FOR DE CHAKRABORTY & SEN FOR KALANI & CO.

D. K. ROY CHOWDHURY Partner : M. No. 053087

Schedule 2 - Reserves & Surplus

* Note: Revenue and Other

GRAND TOTAL 403017,11,82 362142,07,45

Schedule 5 - Other Liabilities & Provisions

Schedule 6 - Cash and Balances With Reserve Bank of India

Schedule 10 - Fixed Assets

Schedule 11 - Other Assets

Schedule 12 - Contingent Liabilities

State Bank of India

In terms of our report of even date

RAJESH SETHI ANIRBAN PAL K. JITENDRA KUMAR Partner : M. No. 20182

VITESH D. GANDHI M. K. JUNEJA ABHIJIT NEOGI

S. R. TOTLA V. CHANDRASEKARAN Partner: M. No. 024844 Firm Regn. No. 230448S

SANJIV KAPOOR SAMEER B. DOSHI AJAY KUMAR AGRAWAL

FOR DE CHAKRABORTY & SEN FOR KALANI & CO.

D. K. ROY CHOWDHURY Partner : M. No. 053087

Schedule 13 - Interest Earned

Schedule 14 - Other Income

Schedule 15 - Interest Expended

Schedule 16 - Operating Expenses

C. Significant Accounting Policies:

3. Loans/ Advances and Provisions thereon:

3.10 Appropriation of recoveries in NPAs (not out of

Provisions – Sr. Description of Fixed Method of Depreciation/ amortisation

10. Effect of changes in the foreign exchange rate:

10.2 Foreign Operations:

occurs upon completion of five

13. Earnings per Share:

14. Provisions, Contingent Liabilities and Contingent

15. Bullion Transactions:

16. Special Reserves:

17. Share Issue Expenses:

(ii) Tier 1 Capital Ratio (%) 10.38% 10.02%

AS PER BASEL III

3. Innovative Perpetual Debt Instruments (IPDI)

These bonds have been listed in Singapore stock exchange (SGX).

Sr. Nature of Bonds Principal Date of Issue/ Rate of Maturity

2 SBI Non Convertible 2,000.00 02.01.2014 9.69 120

3 e-SBH Upper Tier II 325.00 05.06.2009 8.39 180

4 e- SBH Upper Tier II 450.00 21.08.2009 8.50 180

5 e -SBH Upper Tier II 475.00 08.09.2009 8.60 180

6 e-SBM Tier II 500.00 17.12.2014 8.55 120

7 e -SBP Tier II 950.00 22.01.2015 8.29 120

8 e- SBBJ Tier II 200.00 20.03.2015 8.30 120

9 e -SBH Tier II 393.00 31.03.2015 8.32 120

10 SBI Non Convertible 866.92 04.11.2010 9.50 180

11 SBI Non Convertible, Unsecured 4,000.00 23.12.2015 8.33 120

12 e -SBH Tier II 500.00 30.12.2015 8.40 120

Sr. Nature of Bonds Principal Date of Issue/ Rate of Maturity

14 e-SBM Tier II 200.00 18.01.2016 8.45 120